# In the matter of Shari Pharmachem Pvt. Ltd.

> NCLT judgment dated 2026-03-16. Citation: TCN-2026-NCLT-00274. Rumit Lifecare filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 16 Mar 2026
- **Citation:** TCN-2026-NCLT-00274
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/shari-pharmachem-pvt-ltd-e917e4a3

## Summary

### Background

Rumit Lifecare filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Shari Pharmachem Private Limited, claiming default in payment of an operational debt of Rs. 6,09,50,590.60, comprising principal and interest arising from the supply of goods.

## Facts

Rumit Lifecare, an Operational Creditor, filed a petition under Section 9 of the IBC against Shari Pharmachem Private Limited.

The Operational Creditor claimed a total debt of Rs. 6,09,50,590.60, including principal and interest.

The Corporate Debtor denied the claim, stating that there was no agreement for interest payment and the claim was barred by limitation.

The Operational Creditor issued a demand notice in Form-3 dated 07.06.2025 under Section 8 of the IBC.

The Corporate Debtor made payments aggregating to INR 8,04,85,300, with the last payment on 14.12.2023.

The Adjudicating Authority noted that the invoices were raised in USD, and the claim was presented in INR.

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## Issues and analysis

### Issue 1: Whether interest can be included as part of the operational debt in the absence of a contractual …

**Ratio:** Interest mentioned only in invoices without a contractual agreement cannot be treated as

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**Reasoning:** The Hon'ble NCLAT in Team Commotrade India Pvt. Ltd. v. RG Thermal Solution Pvt. Ltd.

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**Interpretation:** Interest can only form part of the operational debt if it arises from a

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**Application:** In this case, there was no contractual stipulation for interest in the purchase

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## Parties

- **Judges:** SHAMMI…; SANJEEV S…
- **Appellants:** Rumit Lif…; Rumit Lif…
- **Respondents:** Shari Pharmachem…; Shari Pharmachem…
- **Other parties:** Manoj Anant…
- **Advocates:** Tarak…; Kurven…

## Timeline

- **2026-01-23 — Filing of Company…**: Company Petition filed…
- **2025-06-07 — Demand N…**: Demand Notice in Form 3…

## 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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