# In the matter of OSL Healthcare Pvt. Ltd. (IB)-1734(ND)-2018

> NCLT judgment dated 2019-04-05. Citation: TCN-2019-NCLT-04113. The case involves a dispute between Consultant Combustion Engineers (Operational Creditor) and…

- **Court:** NCLT
- **Order date:** 5 Apr 2019
- **Citation:** TCN-2019-NCLT-04113
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/osl-healthcare-pvt-ltd-ib-1734nd-2018-9d1e6761

## Summary

### Background

The case involves a dispute between Consultant Combustion Engineers (Operational Creditor) and OSL Healthcare Pvt. Ltd. (Corporate Debtor) under Section 9 of the IBC, 2016. The Corporate Debtor has been taken over by a new management. The Petitioner seeks reconciliation of accounts, but the possibility appears remote due to the peculiar facts of the case. The respondent claims to have uncovered discrepancies and conducted an audit after taking over.

## Facts

Consultant Combustion Engineers (Operational Creditor) filed a case against OSL Healthcare Pvt. Ltd. (Corporate Debtor) under Section 9 of the IBC, 2016. The Corporate Debtor has undergone a change in management. The Petitioner requested a reconciliation of accounts. The new management of the Corporate Debtor claims to have uncovered discrepancies and conducted an audit. The Petitioner opposes the submission of the audit report, stating it was not mentioned in the reply to the Section 8 notice. The court acknowledges the operational creditor's argument that the new management is liable for the previous management's debts.

## Issues and analysis

### Issue 1: Whether the court should consider the audit report submitted by the new management of the Corporate …

**Ratio:** The principle of natural justice requires that all parties be given a fair opportunity to

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**Reasoning:** The court reasoned that considering the nature of the allegations and the fact that the

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**Interpretation:** This issue involves the interpretation of procedural fairness and the court's

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**Application:** The court applied the principle of natural justice by allowing the new

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## Parties

- **Judges:** V.K. SUB…; Ina Mal…
- **Appellants:** Harshit S…
- **Respondents:** OSL Healthcare…; M.K. Pa…

## Timeline

- **2019-04-05 — Hearing…**: Hearing before the New Delhi Bench of…
- **2019-05-06 — Next Hearin…**: Case adjourned for…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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