# In the matter of Vasan Healthcare Pvt. Ltd. Vs Alcon Laboratories (India) Pvt. Ltd. CA (AT) No. 41-2017

> NCLAT judgment dated 2017-05-30. Citation: TCN-2017-NCLAT-00170. The case involves an appeal preferred by Vasan Healthcare Pvt. Ltd., the Appellant/Corporate…

- **Court:** NCLAT
- **Order date:** 30 May 2017
- **Citation:** TCN-2017-NCLAT-00170
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/vasan-healthcare-pvt-ltd-vs-alcon-laboratories-6271b090

## Summary

### Background

The case involves an appeal preferred by Vasan Healthcare Pvt. Ltd., the Appellant/Corporate Debtor, under Section 61 of the Insolvency & Bankruptcy Code, 2016, against an order dated April 21, 2017, passed by the National Company Law Tribunal, Chennai Bench. The NCLT order admitted an application by the Respondent, M/s. Alcon Laboratories (India) Pvt. Ltd., an Operational Creditor, for initiating a corporate insolvency resolution process under Section 9 of the I&B Code. The NCLT also passed an order of moratorium and stayed all pending proceedings before all courts. The Appellant brought to the notice of the Appellate Tribunal that a winding up petition was pending before the Hon'ble Madras High Court. The Madras High Court had stayed the operation of

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## Facts

Vasan Healthcare Pvt. Ltd. (Appellant/Corporate Debtor) filed an appeal against the order of the National Company Law Tribunal (NCLT), Chennai, which admitted an application by Alcon Laboratories (India) Pvt. Ltd. (Respondent/Operational Creditor) for initiating corporate insolvency resolution process under Section 9 of the Insolvency & Bankruptcy Code (I&B Code). The NCLT also declared a moratorium and stayed all pending proceedings. The Appellant informed the Appellate Tribunal that a winding up petition was pending before the Madras High Court. The Madras High Court had stayed the operation of the insolvency proceedings initiated by the Adjudicating Authority. The Appellant sought to withdraw the appeal before the Appellate Tribunal.

## Issues and analysis

### Issue 1: Whether the insolvency resolution process initiated under Section 9 of the I&B Code is …

**Ratio:** Section 238 of the I&B Code provides that the provisions of the Code shall have

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**Reasoning:** The Appellate Tribunal raised doubts about the jurisdiction of the Hon'ble Madras High

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**Interpretation:** Section 238 of the I&B Code is interpreted to mean that the I&B Code

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**Application:** The ratio and reasoning suggest that the insolvency resolution process under

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## Parties

- **Judges:** S.J. Mukhop…; Balvinder…
- **Respondents:** Vasan Healthcare…; M/s. Alcon…

## Timeline

- **2017-04-21 — NCLT Ord…**: National Company Law Tribunal, Chennai Bench passed an order admitting the application…
- **2017-05-01 — Appellant's…**: Appellant brought to the notice of the Appellate Tribunal that a winding up petition was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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