# In the matter of Santosh Hospitals Pvt. Ltd. MA-363-2019 in IBA-434-2019

> NCLT judgment dated 2019-05-02. Citation: TCN-2019-NCLT-03558. The case involves an application (MA/363/2019) within an insolvency proceeding (IBA/434/2019).…

- **Court:** NCLT
- **Order date:** 2 May 2019
- **Citation:** TCN-2019-NCLT-03558
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/santosh-hospitals-pvt-ltd-ma-363-2019-in-iba-434-2019-9d5258ad

## Summary

### Background

The case involves an application (MA/363/2019) within an insolvency proceeding (IBA/434/2019). The National Company Law Tribunal (NCLT), Chennai Bench, heard submissions from both sides. Due to the impending vacation, the bench decided it was not in a position to pronounce orders immediately. The respondents did not agree to extend the existing undertaking without prejudice to their rights. The court directed both parties not to deal with the asset in question until the next hearing date.

## Facts

The National Company Law Tribunal (NCLT), Chennai Bench, was hearing an application (MA/363/2019) within an insolvency proceeding (IBA/434/2019). The hearing took place on 2019-05-02. The petitioner is Sripriya Kumar RP, representing Santosh Hospitals Pvt Ltd. The respondents include Muthoot Fincorp Ltd and 4 others. The case is brought under Section 60(5) of the IBC. Due to the impending vacation and the respondents' refusal to extend an existing undertaking, the NCLT decided to defer the matter for further hearing after the vacation. The court directed both parties not to deal with the asset in question until the next hearing. The matter was listed for additional written submissions on 2019-05-27. The order explicitly stated that it was not based on the merits of the

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## Issues and analysis

### Issue 1: Whether the NCLT was justified in deferring the matter due to time constraints and the respondents' …

**Ratio:** Courts have the discretion to manage their dockets and prioritize cases based on various

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**Reasoning:** The NCLT explicitly stated that the deferral was due to the impending vacation and the

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**Interpretation:** This highlights the court's inherent power to manage its proceedings

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**Application:** Given the time constraints and the respondents' refusal to extend the

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** Sripriya Ku…
- **Respondents:** SANTOSH HOSPITALS…; Muthoot Fincorp…

## Timeline

- **2019-05-02 — Hearing…**: Hearing of MA/363/2019 in…
- **2019-05-27 — Next Hearin…**: Matter listed for filing…

## 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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