# In the matter of Pure Life Science Private Limited CP(IB)-2182-MB-IV-2019

> NCLT judgment dated 2019-10-25. Citation: TCN-2019-NCLT-00794. The case pertains to CP(IB)-2182/MB-IV/2019 filed under Section 9 of the Insolvency &…

- **Court:** NCLT
- **Order date:** 25 Oct 2019
- **Citation:** TCN-2019-NCLT-00794
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/pure-life-science-private-limited-cpib-2182-mb-iv-2019-5deb7a51

## Summary

### Background

The case pertains to CP(IB)-2182/MB-IV/2019 filed under Section 9 of the Insolvency & Bankruptcy Code, 2016. Shubham Pharmachem Pvt. Ltd., the operational creditor, initiated proceedings against Pure Lifescience Pvt. Ltd., the corporate debtor.

## Facts

Shubham Pharmachem Pvt. Ltd. initiated insolvency proceedings against Pure Lifescience Pvt. Ltd. under Section 9 of the Insolvency & Bankruptcy Code, 2016. The Adjudicating Authority, in continuation of a previous order dated 22.10.2019, appointed Mr. Lakshminarayan Krishnamoorthy as the Interim Resolution Professional (IRP). The IRP's registration number is IBBI/IPA-002/IP-N00260/2017-2018/10773, and their address is at 11, Ellora Building, Plot 51/54/56, Chhedanagar, Mumbai - 400 089. The IRP's email is murti_1945@rediffmail.com, and their mobile number is 9004081585. The IRP is directed to take further steps in the matter immediately.

## Issues and analysis

### Issue 1: Whether Mr. Lakshminarayan Krishnamoorthy should be appointed as the Interim Resolution …

**Ratio:** The ratio is based on the Adjudicating Authority's power to appoint an IRP to manage the

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**Reasoning:** The Adjudicating Authority reasoned that appointing an IRP is necessary to ensure the

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**Interpretation:** The interpretation involves understanding the provisions of the Insolvency and

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

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## Parties

- **Judges:** Rajasekha…; Ravikumar…; +1 more
- **Appellants:** Shubham Pharmachem…
- **Respondents:** Pure Lifescience…

## Timeline

- **2019-10-22 — Previous…**: An order was passed by the…
- **2019-10-25 — Order Del…**: Mr. Lakshminarayan Krishnamoorthy is appointed as the Interim Resolution Professional…

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