# In the matter of Macin Remedies India Limited

> NCLT judgment dated 2023-07-21. Citation: TCN-2023-NCLT-02389. The case involves an application (IA No. 1542/2023) filed by Macin Remedies India Limited, the…

- **Court:** NCLT
- **Order date:** 21 Jul 2023
- **Citation:** TCN-2023-NCLT-02389
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/macin-remedies-india-limited-950f7be7

## Summary

### Background

The case involves an application (IA No. 1542/2023) filed by Macin Remedies India Limited, the corporate debtor, against Vinayak Print Pack, the operational creditor, under Rule 11 of the National Company Law Rules, 2016. The corporate debtor sought to recall an order dated 04.07.2023 and to bring on record a Memorandum of Settlement dated 05.06.2023. The main petition, CP (IB) No. 225/Chd/Pb/2020, was admitted on 04.07.2023, and an Interim Resolution Professional (IRP) was appointed. The corporate debtor was proceeded against ex parte.

## Facts

Macin Remedies India Limited (corporate debtor) filed an application (IA No. 1542/2023) against Vinayak Print Pack (operational creditor) to recall an order dated 04.07.2023 and to bring on record a Memorandum of Settlement dated 05.06.2023. The corporate debtor agreed to pay the operational creditor the full and final settlement amount. The application was pending under scrutiny, and objections were removed on 03.07.2023. However, the Adjudicating Authority pronounced the order of main petition CP (IB) No.225/Chd/Pb/2020 on 04.07.2023, admitting the petition and appointing Ms. Pooja Damir Miglani as Interim Resolution Professional. The corporate debtor was proceeded against ex parte. An earlier application, MA (IBC) No.1/2023, for setting aside an order dated

…

## Issues and analysis

### Issue 1: Whether the application filed under Rule 11 of the NCLT Rules, 2016, is maintainable when the …

**Ratio:** An application under Rule 11 of the NCLT Rules, 2016, is not maintainable if the

…

**Reasoning:** The court reasoned that since the corporate debtor was proceeded against ex parte and an

…

**Interpretation:** The interpretation is that once a corporate debtor is proceeded against ex

…

**Application:** In this case, Macin Remedies India Limited, having been proceeded against ex

…

## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Respondents:** Macin Remedies…; Vinayak Pri…
- **Advocates:** Nitin B…

## Timeline

- **2020-01-01 — CP (IB) No. 225/chd/Pb/2…**: The main petition, CP (IB) No.…
- **2022-09-15 — Order Da…**: Order was dated…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/macin-remedies-india-limited-950f7be7