# In the matter fo Sahs Lifesciences Pvt. Ltd. CA No. 201,293,294 & 295-2019 in CP (IB) No.239-Chd-Hry-2018

> NCLT judgment dated 2019-06-13. Citation: TCN-2019-NCLT-02931. The case involves multiple applications (CA No.293/2019, 294/2019, 295/2019 & 201/2019) within…

- **Court:** NCLT
- **Order date:** 13 Jun 2019
- **Citation:** TCN-2019-NCLT-02931
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/in-the-matter-fo-sahs-lifesciences-pvt-ltd-ca-no-201293294-295-2019-in-cp-ib-no2-f915121b

## Summary

### Background

The case involves multiple applications (CA No.293/2019, 294/2019, 295/2019 & 201/2019) within the context of a Corporate Insolvency Resolution Process (CIRP) initiated under CP (IB) No.239/Chd/Hry/2018. Real Soya Enterprises is the Operational Creditor, and Sahs Lifesciences Pvt. Ltd. is the Corporate Debtor. Mr. Joy Kumar Jain serves as the Interim Resolution Professional (IRP). CA No.201/2019 was filed by the Ex-Interim Resolution Professional seeking payment of the Corporate Insolvency Resolution Process cost. The Committee of Creditors (CoC) had ratified only a portion of the expenses claimed by the Ex-IRP.

## Facts

Real Soya Enterprises initiated a Corporate Insolvency Resolution Process (CIRP) against Sahs Lifesciences Pvt. Ltd. Mr. Joy Kumar Jain was appointed as the Interim Resolution Professional (IRP). An Ex-Interim Resolution Professional filed CA No.201/2019 seeking payment of CIRP costs. The Committee of Creditors (CoC) ratified only ₹9,83,708/- of the expenses claimed by the Ex-IRP. Mr. Joy Kumar Jain requested an interim payment due to financial difficulties. The court is also dealing with applications for notices to be sent to the respondents and non-applicants. The learned counsel for the Resolution Professional sought to withdraw CA No.295/2019.

## Issues and analysis

### Issue 1: Whether the Ex-Interim Resolution Professional is entitled to the full amount of expenses claimed …

**Ratio:** The Committee of Creditors (CoC) has the authority to ratify expenses incurred during the

…

**Reasoning:** The court noted a discrepancy between the expenses claimed by the Ex-IRP and the amount

…

**Interpretation:** This highlights the importance of proper documentation and justification of

…

**Application:** The court's direction to the CoC to reconsider the claim indicates that the

…

## Parties

- **Judges:** M.K. Sh…; Pradeep R.…
- **Appellants:** Real Soya…
- **Respondents:** Sahs Lifesciences…

## Timeline

- **2018-01-01 — CP (IB) No.239/Chd/Hry/2…**: Corporate Insolvency…
- **2019-06-13 — Order Da…**: Order issued regarding expense…

---

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/in-the-matter-fo-sahs-lifesciences-pvt-ltd-ca-no-201293294-295-2019-in-cp-ib-no2-f915121b