# In the matter of Osaka Pharmaceuticals Pvt. Ltd. I.A. No. 343,344,345,346,380,381,382,383,384,435,436,437,438 & 440-2019 in CP(IB) No. 248-2018

> NCLT judgment dated 2019-07-26. Citation: TCN-2019-NCLT-02254. CP(IB)No. 248/2018 was filed by the Proprietor of M/s Western Pharma under section 9 of the…

- **Court:** NCLT
- **Order date:** 26 Jul 2019
- **Citation:** TCN-2019-NCLT-02254
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/osaka-pharmaceuticals-pvt-ltd-ia-no-343344345346380381382383384435436437438-440-d9ceec82

## Summary

### Background

CP(IB)No. 248/2018 was filed by the Proprietor of M/s Western Pharma under section 9 of the Insolvency and Bankruptcy Code, 2016, seeking reliefs under section 9 in respect of M/s. Osaka Pharmaceuticals Private Limited, treating it as a Corporate Debtor. The Adjudicating Authority admitted the CP(IB) No. 248/2017 on 10.10.2018 and appointed Shri Hiten M. Parikh as the Interim Resolution Professional (IRP). The CoC replaced the IRP in its first meeting held on 12.11.2018 and appointed Mr. Abhishek Nagori as the Resolution Professional (RP). The IRP made a public announcement on 15.10.2018 calling upon the claims from the creditors. The RP filed IA No. 439 of 2019 for liquidation of the Corporate Debtor Company Osaka Pharmaceuticals Limited under section 33(1) and 33(2)

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## Facts

M/s Western Pharma filed CP(IB)No. 248/2018 under section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s. Osaka Pharmaceuticals Private Limited, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Adjudicating Authority admitted the petition on 10.10.2018 and appointed Shri Hiten M. Parikh as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) replaced the IRP with Mr. Abhishek Nagori on 12.11.2018. The IRP made a public announcement on 15.10.2018, inviting claims from creditors. The RP filed IA No. 439 of 2019 for the liquidation of Osaka Pharmaceuticals Limited under section 33(1) and 33(2) of the IBC, 2016. During the pendency of IA No. 439, fourteen Interlocutory Applications (IAs) were filed by various

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## Issues and analysis

### Issue 1: Whether the Resolution Professional (RP) has the authority to reject claims from Operational …

**Ratio:** The Resolution Professional (RP) is not vested with any adjudicatory power and is legally

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**Reasoning:** The Adjudicating Authority stated that the RP's role is to collate and verify claims, and

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**Interpretation:** The interpretation is that the RP's primary responsibility is to gather and

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**Application:** In this case, the RP rejected claims from Operational Creditors due to delayed

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## Parties

- **Judges:** Harihar Prakash…; Manorama…
- **Appellants:** Western P…
- **Respondents:** Osaka Pharmaceutic…; Abhishek…

## Timeline

- **2018-10-10 — Admission of CP(IB) No.…**: The Adjudicating Authority…
- **2018-10-15 — Public Annou…**: The IRP made a public announcement…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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