# In the matter of Akansha Medicare Pvt. Ltd. (Lifeline Medical Research & Cancer Institute)

> NCLT judgment dated 2024-01-12. Citation: TCN-2024-NCLT-03108. The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 12 Jan 2024
- **Citation:** TCN-2024-NCLT-03108
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/akansha-medicare-pvt-ltd-lifeline-medical-research-cancer-institute-e20e853c

## Summary

### Background

The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, by DIPY ENTERPRISE (Operational Creditor) against LIFELINE MEDICAL RESEARCH & CANCER INSTITUTE (Corporate Debtor) for failure to pay an operational debt. The Operational Creditor supplied medicines to the Corporate Debtor, who allegedly failed to pay the outstanding amount. The Corporate Debtor was given multiple opportunities to respond and participate in mediation, but failed to do so.

## Facts

DIPY ENTERPRISE, the Operational Creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against LIFELINE MEDICAL RESEARCH & CANCER INSTITUTE, the Corporate Debtor, for non-payment of operational debt. The Operational Creditor claimed to have supplied medicines to the Corporate Debtor, with an outstanding principal amount of Rs. 1,04,71,741/- and interest of Rs. 7,85,380/-, totaling Rs. 1,12,57,121/- as of the filing date. The Corporate Debtor allegedly failed to pay the due amount despite receiving a legal notice on 21.02.2022. A commercial mediation was initiated on 18.05.2022 but failed due to the Corporate Debtor's non-participation. The Operational Creditor issued a notice under Section 8 of the IBC on 07.09.2022, which went

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## Issues and analysis

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

**Ratio:** An application under Section 9 of the IBC requires clear and consistent documentation to

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**Reasoning:** The court found that the invoices attached to the application did not correspond to the

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**Interpretation:** The court interpreted the requirements of Section 9 of the IBC to mean that the

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**Application:** In this case, the court found that the discrepancies in the invoices submitted

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## Parties

- **Judges:** BIDISHA BA…; D. Ar…
- **Appellants:** DIPY ENTE…
- **Respondents:** LIFELINE MEDICAL…
- **Advocates:** Surya Prasad…; Arjun Sa…; +1 more

## Timeline

- **2022-02-21 — Legal Notice…**: The applicant issued a legal notice calling upon the Corporate Debtor to pay the…
- **2022-05-18 — Commercial Mediation…**: The Operational Creditor filed a commercial mediation for amicable settlement of dispute…

## 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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