# In the matter of Alekhya Drugs Pvt. Ltd.

> NCLT judgment dated 2024-10-15. Citation: TCN-2024-NCLT-00426. The application was filed by M/s Celebrity Life Sciences Pvt Ltd, formerly known as M/s Alekhya…

- **Court:** NCLT
- **Order date:** 15 Oct 2024
- **Citation:** TCN-2024-NCLT-00426
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/alekhya-drugs-pvt-ltd-498a0101

## Summary

### Background

The application was filed by M/s Celebrity Life Sciences Pvt Ltd, formerly known as M/s Alekhya Drugs Pvt Ltd, seeking a direction to the Respondent not to recover any amount of unquantified/quantified penalty for the Pre-CIRP period concerning irregularities/offences mentioned in a notice dated 04.12.2023. The Corporate Insolvency Resolution Process (CIRP) of the Applicant was initiated on 11.12.2019, based on an application filed by M/s. Trident Chemphar Ltd, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Resolution Plan submitted by Shri K. Umamaheswara Rao, the promoter of the Corporate Debtor, was approved by the CoC with 100% voting share on 03.09.2021, and the Corporate Debtor's name was subsequently changed to

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## Facts

M/s Celebrity Life Sciences Pvt Ltd (formerly known as M/s. Alekhya Drugs Pvt Ltd) filed an application before the National Company Law Tribunal (NCLT), Hyderabad Bench, seeking a direction to the Union of India (Respondent) not to recover any amount of unquantified/quantified penalty for the Pre-CIRP period concerning irregularities/offences mentioned in a notice dated 04.12.2023. The Corporate Insolvency Resolution Process (CIRP) of the Applicant was initiated on 11.12.2019, based on an application filed by M/s. Trident Chemphar Ltd, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). The Resolution Plan submitted by Shri K. Umamaheswara Rao, the promoter of the Corporate Debtor, was approved by the CoC with 100% voting share

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## Issues and analysis

### Issue 1: Whether the Respondent can demand penalties for Pre-CIRP offences after the approval of the …

**Ratio:** The IBC holds overriding authority over any laws that are inconsistent with its

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**Reasoning:** The Tribunal relied on the Hon'ble Supreme Court's judgment in Ghanashyam Mishra and Sons

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**Interpretation:** The Supreme Court's interpretation of Section 31 of the IBC emphasizes the

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**Application:** The Tribunal applied this principle to the case, stating that the SRA cannot be

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## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** Celebrity Life…
- **Respondents:** Alekhya Drugs Pvt…; Union of…
- **Advocates:** Peri Rama K…; K V R…

## Timeline

- **2019-12-11 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) of the Applicant was initiated in CP(IB)…
- **2021-09-03 — Resolution Plan…**: The Resolution Plan was approved, and the Corporate Debtor's name was subsequently…

## 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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