# Orbit Lifescience Private Limited vs. Krux Pharma Private Limited

> NCLT judgment dated 2026-09-18. Citation: TCN-2026-NCLT-01192. The case involves an application (IA/1491(AHM) 2026) filed under Section 12A of the Insolvency…

- **Court:** NCLT
- **Order date:** 18 Sept 2026
- **Citation:** TCN-2026-NCLT-01192
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/krux-pharma-private-limited-7b5q8

## Summary

### Background

The case involves an application (IA/1491(AHM) 2026) filed under Section 12A of the Insolvency and Bankruptcy Code, 2016, seeking the withdrawal of the Corporate Insolvency Resolution Process (CIRP) initiated against Krux Pharma Private Limited. The CIRP was admitted on 07.08.2026, and an Interim Resolution Professional (IRP) was appointed. Another application (IA/1490(AHM) 2026) was filed by the IRP to place on record the report certifying the constitution of the Committee of Creditors (CoC).

## Facts

IA/1490(AHM) 2026 was filed by the applicant/IRP of Krux Pharma Private Limited under Section 21 of the IBC Code 2016 to place on record the "Report Certifying the Constitution of the Committee of Creditors".

IA/1491(AHM) 2026 was filed on 03.09.2026 under Section 12A of the Insolvency and Bankruptcy Code, 2016 read with Regulation 30A of the CIRP Regulations.

The application sought withdrawal of CP (IB) No. 235/AHM/2026, which was admitted on 07.08.2026, and release of the Corporate Debtor from all obligations and proceedings.

By order dated 25.08.2026 in Company Appeal (AT) (Ins.) No. 1554/ND/2026, the NCLAT directed submission and consideration of Form FA by the CoC and restrained issuance of Form G.

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## Issues and analysis

### Issue 1: Whether the application for withdrawal of CIRP against Krux Pharma Private Limited under Section …

**Ratio:** An application for withdrawal of CIRP under Section 12A of the IBC, supported by a 100%

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**Reasoning:** The CoC approved the withdrawal with a 100% voting share. Respondent No. 1 (Operational

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**Interpretation:** Section 12A of the IBC, read with Regulation 30A of the CIRP Regulations,

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**Application:** Given the fulfillment of all statutory and procedural requirements, including

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## Parties

- **Judges:** SHAMMI…; SANJEEV S…
- **Appellants:** Orbit Lifescience…; Jayesh Natvarlal…
- **Respondents:** Krux Pharma…; Respondent…; +2 more
- **Other parties:** Committee of…; Jayesh Sang…
- **Advocates:** Nipun Si…; Harshil L…; +2 more

## Timeline

- **2026-08-07 — CIRP Admi…**: CP (IB) No. 235/AHM/2026 admitted…
- **2026-08-25 — NCLAT Or…**: Hon'ble NCLAT directed submission and consideration of Form FA by the CoC and restrained…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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