# In the matter of Elder Pharmaceuticals Limited T.C. P. No. 776-(MAH)-2017

> NCLT judgment dated 2017-12-05. Citation: TCN-2017-NCLT-00098. The case involves a petition under the I&B Code. An order had already been passed pertaining to…

- **Court:** NCLT
- **Order date:** 5 Dec 2017
- **Citation:** TCN-2017-NCLT-00098
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/elder-pharmaceuticals-limited-tc-p-no-776-mah-2017-a76eaf9c

## Summary

### Background

The case involves a petition under the I&B Code. An order had already been passed pertaining to the debtor by the NCLT bench, referencing a previous case (Ambrish B Dani Vs. Elder Pharmaceutical). The Hon'ble High Court had admitted winding up proceedings for the Respondent Debtor, Elder Pharmaceuticals Limited, and appointed an Official Liquidator. The High Court also directed the NCLT to return records back to the High Court.

## Facts

Bhuvan Enterprises Pvt. Ltd. filed a petition against Elder Pharmaceuticals Limited. An order was previously passed by the NCLT concerning Elder Pharmaceuticals Limited, referencing a case of Ambrish B Dani Vs. Elder Pharmaceutical. The Hon'ble High Court admitted winding up proceedings against Elder Pharmaceuticals Limited and appointed an Official Liquidator. The High Court also directed the NCLT to return the records of Company Petition No.302 of 2016 back to the High Court. The NCLT then disposed of the petition before it, reverting it back to the High Court.

## Issues and analysis

### Issue 1: Whether the petition under the I&BC survives given the High Court's admission of winding-up …

**Ratio:** When a higher court (High Court) has already initiated winding-up proceedings and

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**Reasoning:** The NCLT reasoned that the High Court's actions, specifically the admission of winding-up

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**Interpretation:** This legal issue involves the interpretation of the interplay between the

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**Application:** In this specific case, the High Court's actions directly impacted the viability

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## Parties

- **Judges:** M.K. Sh…; Bhaskara Pantula…
- **Appellants:** Bhuvan Enterprises…
- **Respondents:** Elder Pharmaceutic…

## Timeline

- **2017-12-04 — High Court…**: The Hon'ble High Court directed the Registry of NCLT to return the records back to High…
- **2017-12-05 — NCLT Ord…**: The NCLT disposed of the petition,…

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