# In the matter of Mantena Laboratories Limited

> NCLT judgment dated 2023-12-13. Citation: TCN-2023-NCLT-00266. The case involves an application (I.A.No.63 of 2022) filed by the Resolution Professional (RP)…

- **Court:** NCLT
- **Order date:** 13 Dec 2023
- **Citation:** TCN-2023-NCLT-00266
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/mantena-laboratories-limited-483c0144

## Summary

### Background

The case involves an application (I.A.No.63 of 2022) filed by the Resolution Professional (RP) in a Corporate Insolvency Resolution Process (CIRP) against the former directors of M/s. Mantena Laboratories Limited, the Corporate Debtor. The CIRP was initiated on 06.08.2021, and the applicant was subsequently appointed as RP. The application sought directions against the former directors.

## Facts

M/s. Mantena Laboratories Limited entered Corporate Insolvency Resolution Process (CIRP) on 06.08.2021. CA Kambhammetu Sri Vamsi was appointed as the Resolution Professional (RP). The RP filed an application seeking directions against the former directors of M/s. Mantena Laboratories Ltd. An earlier hearing on 22.02.2022 resulted in directions being passed. The RP subsequently filed IA No. 1468/2022, presenting a Resolution Plan which is currently awaiting approval. The present application has been deemed irrelevant due to the pending Resolution Plan.

## Issues and analysis

### Issue 1: Whether the application filed by the Resolution Professional seeking directions against the former …

**Ratio:** An application becomes irrelevant when the underlying issue it addresses is superseded by

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**Reasoning:** The court reasoned that since a Resolution Plan had been filed and was awaiting approval,

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**Interpretation:** The court interpreted the situation as one where the progress of the CIRP had

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**Application:** The court applied this reasoning to the specific facts by noting that the RP's

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## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** CA Kambhammetu…
- **Respondents:** M/s Mantena…; Ramakrishnavara…

## Timeline

- **2021-08-06 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) initiated for M/s. Mantena Laboratories…
- **2022-02-22 — Previous H…**: The IA was earlier heard, and necessary…

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