# In the matter of SRS Meditech LImited CP(IB) No. 64-Chd-Hry-2018

> NCLT judgment dated 2018-11-15. Citation: TCN-2018-NCLT-00331. The case pertains to an application filed by an Operational Creditor, Durga Enterprises, under…

- **Court:** NCLT
- **Order date:** 15 Nov 2018
- **Citation:** TCN-2018-NCLT-00331
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/srs-meditech-limited-cpib-no-64-chd-hry-2018-7d011d94

## Summary

### Background

The case pertains to an application filed by an Operational Creditor, Durga Enterprises, under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against SRS Meditech Limited, the Corporate Debtor. The application was admitted on 02.11.2018.

## Facts

Durga Enterprises, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against SRS Meditech Limited, the corporate debtor. The application was admitted on 02.11.2018. The operational creditor did not propose an Interim Resolution Professional (IRP). The Insolvency and Bankruptcy Board of India (IBBI) stated that in cases where the operational creditor has made an application for CIRP and has not proposed an IRP, the appointment of IRP can be made from the bench wise list of Insolvency Professionals. The NCLT appointed Mr. Tarun Batra as the IRP. A moratorium was declared under Section 14 of the Code. The order directed the IRP to make a public

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the Insolvency and Bankruptcy Code, 2016, should be …

**Ratio:** Section 9 of the Insolvency and Bankruptcy Code, 2016, allows an operational creditor to

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**Reasoning:** The court admitted the application based on the provisions of Section 9 of the IBC,

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**Interpretation:** Section 9 provides the mechanism for operational creditors to trigger the

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**Application:** The application was admitted, implying that the operational creditor

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## Parties

- **Judges:** R.P.Nag…; Pradeep R.…
- **Appellants:** Durga Enter…
- **Respondents:** SRS Meditech…

## Timeline

- **2018-11-02 — Application A…**: The application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016, was…
- **2018-11-15 — Order Del…**: The order was delivered declaring moratorium and appointing Interim Resolution…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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