# In the matter of Ayurwin Pharma Private Limited CP (IB) No. 186-BB-2018

> NCLT judgment dated 2019-09-27. Citation: TCN-2019-NCLT-01214. The case involves an application, C.P.(IB)No.186/BB/2018, filed by M/s.Natural Capsules Private…

- **Court:** NCLT
- **Order date:** 27 Sept 2019
- **Citation:** TCN-2019-NCLT-01214
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ayurwin-pharma-private-limited-cp-ib-no-186-bb-2018-06233156

## Summary

### Background

The case involves an application, C.P.(IB)No.186/BB/2018, filed by M/s.Natural Capsules Private Limited under Section 9 of the IBC, 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s.Ayurwin Pharma Private Limited, alleging default on outstanding dues. The case was listed for admission on multiple dates, but neither the petitioner nor their counsel appeared on several key dates.

## Facts

M/s.Natural Capsules Private Limited, identified as the Petitioner/Operational Creditor, filed C.P.(IB)No.186/BB/2018 under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate Corporate Insolvency Resolution Process (CIRP) against M/s.Ayurwin Pharma Private Limited, the Respondent/Corporate Debtor. The petitioner claimed that the corporate debtor had defaulted on a total outstanding amount of Rs. 26,68,570. The case was listed for admission on multiple dates between October 2018 and September 2019. However, neither the petitioner nor their counsel appeared before the Adjudicating Authority on several key dates, including 2018-10-25, 2019-03-25, and 2019-06-17. Due to the petitioner's repeated absence, the case was posted for dismissal on

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## Issues and analysis

### Issue 1: Whether the application for initiating Corporate Insolvency Resolution Process (CIRP) should be …

**Ratio:** The ratio is based on the principles of the IBC, 2016, specifically Section 9, which

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**Reasoning:** The court's reasoning was based on the fact that the petitioner repeatedly failed to

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**Interpretation:** The interpretation of Section 9 of the IBC, 2016, emphasizes the operational

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**Application:** In this specific case, the petitioner's repeated absence on key hearing dates

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## Parties

- **Judges:** Rajeswara Rao…; Ashok Kumar…
- **Appellants:** M/s.Natural…
- **Respondents:** M/s.Ayurwin…

## Timeline

- **2018-10-25 — Case Listed for…**: The case was listed for admission; however,…
- **2018-10-31 — Case Listed for…**: The case was listed for…

## 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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