# In the matter of Dr. Smiths Biotech Private Limited

> Read the full IBC case summary for In the matter of Dr. Smiths Biotech Private Limited. NCLT judgment dated 2025-04-28. Citation: TCN-2025-NCLT-01081.

- **Court:** NCLT
- **Order date:** 28 Apr 2025
- **Citation:** TCN-2025-NCLT-01081
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dr-smiths-biotech-private-limited-d84c14d5

## Summary

### Background

The financial creditor, Small Industries Development Bank of India (SIDBI), filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Dr. Smiths Biotech Private Limited, the corporate debtor, due to a default in financial obligations.

## Facts

Small Industries Development Bank of India (SIDBI), the financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Dr. Smiths Biotech Private Limited, the corporate debtor. The application sought to appoint an Interim Resolution Professional (IRP) and impose a moratorium. The financial creditor was incorporated on April 2, 1990, and its registered office is in Lucknow, with a branch office in Mumbai. The corporate debtor was incorporated on April 24, 2015, with its registered office in Pune.

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## Issues and analysis

### Issue 1: Whether the application filed under Section 7 of the IBC by the financial creditor against the…

**Ratio:** An application under Section 7 of the IBC must be admitted if a financial debt and a…

**Reasoning:** The corporate debtor admitted the debt and its inability to repay. The financial creditor…

**Interpretation:** The Tribunal interpreted Section 7 of the IBC in line with the Supreme Court's…

**Application:** Given the corporate debtor's admission of debt and default, the financial…

## Parties

- **Judges:** SAMEER…; NILESH S…
- **Advocates:** For Financial…; Darshit Dave,…; +1 more

## Timeline

- **April 2, 1990 — Applicant inco…**: Small Industries Development Bank of…
- **April 24, 2015 — Corporate Debtor…**: M/s. Dr. Smiths Biotech…

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This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/dr-smiths-biotech-private-limited-d84c14d5