# In the matter of KNM Pharma Pvt. Ltd. IA 136 of 2020 in C.P. (IB) No. 506-NCLT-AHM-2019

> NCLT judgment dated 2020-02-19. Citation: TCN-2020-NCLT-01898. The case pertains to IA 136 of 2020 in C.P.(I.B) No. 506/NCLT/AHM/2019 before the Ahmedabad…

- **Court:** NCLT
- **Order date:** 19 Feb 2020
- **Citation:** TCN-2020-NCLT-01898
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/knm-pharma-pvt-ltd-ia-136-of-2020-in-cp-ib-no-506-nclt-ahm-2019-aafd6107

## Summary

### Background

The case pertains to IA 136 of 2020 in C.P.(I.B) No. 506/NCLT/AHM/2019 before the Ahmedabad Bench of the National Company Law Tribunal. The matter involves Pharmachem Enterprise V/s Anjali Nirav Choksi IRP For KNM Pharma & Anr. The application is filed under Section 12A of the IB Code.

## Facts

The case involves an application filed under Section 12A of the IB Code by the Operational Creditor against Pharmachem Enterprise. The IRP, Anjali Nirav Choksi, representing KNM Pharma & Anr, is present. The Corporate Debtor is also present. The IRP submitted that the COC has not yet been constituted. The records were reviewed on 2020-01-28, and the matter was admitted. The IRP, Anjali Chokshi, confirmed receiving her dues and expenses from the Operational Creditor. The relevance of these facts lies in determining whether the application should be allowed and the consequences thereof, including the cessation of the moratorium and the discharge of the IRP's duties.

## Issues and analysis

### Issue 1: Whether the application filed under Section 12A of the IB Code by the Operational Creditor should …

**Ratio:** The court has the discretion to allow or reject applications based on the merits of the

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**Reasoning:** The court considered the submissions of the IRP and the fact that the IRP had received

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**Interpretation:** Section 12A of the IB Code allows for the withdrawal of applications under

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**Application:** Given that the IRP confirmed receiving her dues and expenses, the court found

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Appellants:** Pharmachem…
- **Respondents:** Anjali Nirav…

## Timeline

- **2020-01-28 — Matter Ad…**: The records were seen, and…
- **2020-02-19 — Order Da…**: The instant application is allowed and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12A — (1) Subject to sub](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12a)

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