# In the matter of Mantena Laboratories Limited

> NCLT judgment dated 2023-12-13. Citation: TCN-2023-NCLT-00262. The application was filed by the Resolution Professional (RP) seeking directions against the…

- **Court:** NCLT
- **Order date:** 13 Dec 2023
- **Citation:** TCN-2023-NCLT-00262
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/mantena-laboratories-limited-9c5bab49

## Summary

### Background

The application was filed by the Resolution Professional (RP) seeking directions against the former Directors of M/s. Mantena Laboratories Ltd, the Corporate Debtor (CD), which entered Corporate Insolvency Resolution Process (CIRP) on 06.08.2021, with the Applicant subsequently appointed as RP. An earlier hearing took place on 22.02.2022, where necessary directions were issued. The RP subsequently filed IA No. 1468/2022, presenting a Resolution Plan currently awaiting approval.

## 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 necessary directions. The RP subsequently filed IA No. 1468/2022, presenting a Resolution Plan currently awaiting approval. The application was 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 a

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**Reasoning:** The court reasoned that since a Resolution Plan is currently awaiting approval, the

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**Interpretation:** The court interpreted that the progress of the CIRP towards resolution through

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**Application:** The court applied the principle that the pending Resolution Plan makes the

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## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** CA Kambhammetu…
- **Respondents:** M/s Mantena…; Ramakrishnavara…
- **Advocates:** V.S.R. Av…; C Ra…

## Timeline

- **2021-08-06 — CIRP Commen…**: M/s. Mantena Laboratories Limited entered…
- **2022-02-22 — Previous H…**: An earlier hearing took place, and…

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