The case involves a petition filed by Dr. Reddy's Laboratories Limited against Inter Labs (India) Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was initially admitted by the NCLT on 22.08.2017, initiating the Corporate Insolvency Resolution Process (CIRP) and appointing an Interim Resolution Professional (IRP). However, this order was later set aside by the NCLAT. The matter then went to the Supreme Court, which remanded it back to the NCLAT. The NCLAT rejected the application, leading to another appeal to the Supreme Court, which restored the original order of the NCLT. The petitioner requested the tribunal to appoint an IRP and exclude the time lost in legal proceedings from the CIRP period.
Dr. Reddy's Laboratories Limited, the Operational Creditor, filed a petition against Inter Labs (India) Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The NCLT initially admitted the petition on 22.08.2017, initiating the CIRP. An IRP was appointed. The Corporate Debtor appealed to the NCLAT, which set aside the NCLT's order. Dr. Reddy's then appealed to the Supreme Court, which remanded the matter to the NCLAT. The NCLAT rejected the application, leading to another appeal to the Supreme Court, which restored the original NCLT order. The initial IRP expressed inability to continue. The Operational Creditor failed to nominate a new IRP. The petitioner requested the tribunal to appoint an IRP and exclude the time lost
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NCLT admitted the petition filed under Section…
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The case involves a petition filed by Dr. Reddy's Laboratories Limited against Inter Labs (India) Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was initially admitted by the NCLT on 22.08.2017, initiating the Corporate Insolvency Resolution Process (CIRP) and appointing an Interim Resolution Professional (IRP). However, this order was later set aside by the NCLAT. The matter then went to the Supreme Court, which remanded it back to the NCLAT. The NCLAT rejected the application, leading to another appeal to the Supreme Court, which restored the original order of the NCLT. The petitioner requested the tribunal to appoint an IRP and exclude the time lost in legal proceedings from the CIRP period.
Dr. Reddy's Laboratories Limited, the Operational Creditor, filed a petition against Inter Labs (India) Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The NCLT initially admitted the petition on 22.08.2017, initiating the CIRP. An IRP was appointed. The Corporate Debtor appealed to the NCLAT, which set aside the NCLT's order. Dr. Reddy's then appealed to the Supreme Court, which remanded the matter to the NCLAT. The NCLAT rejected the application, leading to another appeal to the Supreme Court, which restored the original NCLT order. The initial IRP expressed inability to continue. The Operational Creditor failed to nominate a new IRP. The petitioner requested the tribunal to appoint an IRP and exclude the time lost
…NCLT admitted the petition filed under Section…
Hon'ble NCLAT vide…
Sign in to view related legal provisions.