# In the matter of Santosh Hospitals Pvt. Ltd. IBA-266-2019

> NCLT judgment dated 2019-04-04. Citation: TCN-2019-NCLT-04138. The case pertains to an application under the Insolvency and Bankruptcy Code (IBC).…

- **Court:** NCLT
- **Order date:** 4 Apr 2019
- **Citation:** TCN-2019-NCLT-04138
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/santosh-hospitals-pvt-ltd-iba-266-2019-ac21f641

## Summary

### Background

The case pertains to an application under the Insolvency and Bankruptcy Code (IBC). IBA/434/2019, filed by the Financial Creditor under Section 10 of the Code, has been admitted. The present case, IBA/266/2019, is being addressed in conjunction with the admitted application.

## Facts

Regenix Drugs Ltd filed a petition, IBA/266/2019, against Santosh Hospitals Pvt Ltd. Another application, IBA/434/2019, filed by the Financial Creditor under Section 10 of the IBC, was admitted. The court dismissed IBA/266/2019 and directed the Operational Creditor to place its claim before the IRP appointed in IBA/434/2019. The key fact is the admission of IBA/434/2019, which influenced the dismissal of IBA/266/2019.

## Issues and analysis

### Issue 1: Whether the application IBA/266/2019 should be admitted given the admission of IBA/434/2019 filed …

**Ratio:** When a financial creditor's application under Section 10 of the IBC is admitted, it takes

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**Reasoning:** The court reasoned that since IBA/434/2019, filed by the Financial Creditor, had already

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**Interpretation:** This interpretation prioritizes the financial creditor's application under

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**Application:** Given that IBA/434/2019 was admitted, the court applied the principle of

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** REGENIX DRU…
- **Respondents:** SANTOSH HOSPITALS…

## Timeline

- **2019-04-04 — Hearing…**: Hearing held on April…
- **2019-01-01 — IBA/266/2019…**: IBA/266/2019 filed by…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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