# In the matter of Themis Medicare Limited C.P. No. (IB) 696-9-NCLT-AHM-2019

> NCLT judgment dated 2021-02-18. Citation: TCN-2021-NCLT-03001. The case involves an application filed by Biogenetic Drugs Private Ltd. under Section 9 of the…

- **Court:** NCLT
- **Order date:** 18 Feb 2021
- **Citation:** TCN-2021-NCLT-03001
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/themis-medicare-limited-cp-no-ib-696-9-nclt-ahm-2019-6f01dd05

## Summary

### Background

The case involves an application filed by Biogenetic Drugs Private Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate a corporate insolvency resolution process against Themis Medicare Limited, based on a decree obtained in a civil suit for recovery of dues related to the purchase of pharmaceutical products. The operational creditor, Biogenetic Drugs, claimed that Themis Medicare owed Rs. 28,35,880.00 despite a decree in their favor from the Additional District Judge-I, Solan, Himachal Pradesh, dated 10.04.2018. The corporate debtor, Themis Medicare, denied the debt and raised objections, including the executability of the ex-parte decree and the claim being time-barred.

## Facts

Biogenetic Drugs Private Ltd. (operational creditor) filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Themis Medicare Limited (corporate debtor). Biogenetic Drugs claimed that Themis Medicare owed Rs. 28,35,880.00 for pharmaceutical products purchased. A civil suit was instituted by Biogenetic Drugs on 19.04.2011, which resulted in a decree in their favor on 10.04.2018. Themis Medicare made payments of Rs. 51,02,317/- against invoices worth Rs. 79,38,197.00, leaving a balance outstanding. Themis Medicare denied the debt, arguing that the ex-parte decree was not executable through insolvency resolution, the decree was not final due to a pending application to set it aside, the claim was time-barred, and a pre-existing dispute

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## Issues and analysis

### Issue 1: Whether a decree holder can initiate a corporate insolvency resolution process (CIRP) under Section …

**Ratio:** A decree holder, though covered under the definition of creditor under Section 3(10) of

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**Reasoning:** The court relied on the judgment of the Hon'ble National Company Law Appellate Tribunal

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**Interpretation:** Section 3(10) of the IBC defines a creditor broadly, but the court interpreted

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**Application:** The court applied the ratio to the facts of the case, noting that Biogenetic

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## Parties

- **Judges:** Manorama…; Chockalingam…
- **Appellants:** Biogenetic Drugs…
- **Respondents:** Themis Medicare…

## Timeline

- **2004-01-23 — Incorporation of…**: Biogenetic Drugs Private Ltd., the…
- **1969-05-31 — Incorporation of…**: Themis Medicare Limited, the corporate debtor, was registered under the Companies Act,…

## 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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