# In the matter of Parabolic Drugs Limited CA No. 310-2019 in CP (IB) No. 102-Chd-CHD-2018

> NCLT judgment dated 2019-05-09. Citation: TCN-2019-NCLT-03355. The case involves an application (CA No. 310/2019) for the preponement of a hearing related to…

- **Court:** NCLT
- **Order date:** 9 May 2019
- **Citation:** TCN-2019-NCLT-03355
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/parabolic-drugs-limited-ca-no-310-2019-in-cp-ib-no-102-chd-chd-2018-b99572a7

## Summary

### Background

The case involves an application (CA No. 310/2019) for the preponement of a hearing related to CP (IB) No. 102/Chd/CHD/2018. The applicant, Weather Makers Private Limited, is an operational creditor, and the respondent, Parabolic Drugs Limited, is the corporate debtor. The application seeks to advance the hearing date of CA No. 171/2019, which was previously adjourned to 06.06.2019. Orbit Lifescience Private Limited is the applicant/intervener and Raj Ralhan is the Resolution Professional.

## Facts

Weather Makers Private Limited, the applicant and operational creditor, initiated proceedings against Parabolic Drugs Limited, the respondent and corporate debtor, under CP (IB) No. 102/Chd/CHD/2018. Orbit Lifescience Private Limited is an applicant/intervener. CA No. 310/2019 was filed to preponement the hearing of CA No. 171/2019, which had been adjourned to 06.06.2019. The applicant argued that the facts of the case are similar to those in a previous order dated 26.04.2019 involving M/s. Sun Pharmaceutical Industries Ltd. Vs. Parabolic Drugs Ltd., specifically concerning perishable goods. The hearing was proposed to be preponed to 23.05.2019. The relevance of the 'perishable goods' aspect is that it may necessitate a faster resolution of the matter.

## Issues and analysis

### Issue 1: Whether the hearing for CA No. 171/2019 should be preponed to 23.05.2019 based on the similarity of …

**Ratio:** The ratio is based on the principle that similar cases should be treated similarly,

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**Reasoning:** The court's reasoning likely involves assessing the similarity of the facts between the

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**Interpretation:** The interpretation involves understanding the urgency associated with cases

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**Application:** The ratio and reasoning are applied to the specific facts of the case,

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## Parties

- **Judges:** M.K. Sh…; Pradeep R.…
- **Appellants:** Weather Makers…
- **Respondents:** Parabolic Drugs…
- **Advocates:** Anirudh S…; Vishav Bharti…

## Timeline

- **N/A — CP (IB) No. 102/Chd/CHD/…**: Initiation of Corporate Insolvency Resolution…
- **2019-04-26 — Order Da…**: Order in the case of M/s. Sun Pharmaceutical…

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