# In the matter of SUPHA PHARMACHEM LIMITED

> NCLT judgment dated 2026-03-17. Citation: TCN-2026-NCLT-00230. Boston Ivy Healthcare Solution Private Limited filed an application under Section 9 of the IBC…

- **Court:** NCLT
- **Order date:** 17 Mar 2026
- **Citation:** TCN-2026-NCLT-00230
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/supha-pharmachem-limited-b9ee1229

## Summary

### Background

Boston Ivy Healthcare Solution Private Limited filed an application under Section 9 of the IBC to initiate CIRP against Remedium Lifecare Limited, claiming a default of Rs. 7,47,20,079/-. The Operational Creditor (OC) supplied certain chemicals to the Corporate Debtor (CD) based on purchase orders, and despite partial payments, a significant amount remained outstanding.

## Facts

Boston Ivy Healthcare Solution Private Limited (Operational Creditor) filed an application under Section 9 of the IBC against Remedium Lifecare Limited (Corporate Debtor).

The Operational Creditor claimed a default of Rs. 7,47,20,079/-, including principal and interest.

The Corporate Debtor placed purchase orders for certain chemicals with the Operational Creditor.

The Operational Creditor supplied the products to the Corporate Debtor, raising invoices for a total value of Rs. 18,36,25,346.

The Corporate Debtor made partial payments amounting to Rs. 12,17,27,324, leaving a balance of Rs. 6,18,98,022 outstanding.

The Operational Creditor issued a demand notice dated 13.03.2025 to the Corporate Debtor, demanding the outstanding amount.

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## Issues and analysis

### Issue 1: Whether the application under Section 9 of the IBC is complete and meets all procedural …

**Ratio:** Section 9 of the IBC outlines the requirements for initiating CIRP by an Operational

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**Reasoning:** The Adjudicating Authority (NCLT) examined the application and supporting documents,

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**Interpretation:** The NCLT interpreted Section 9 to require the Operational Creditor to

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**Application:** The NCLT found that the Operational Creditor had complied with all procedural

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## Parties

- **Judges:** NILESH S…; SAMEER…
- **Appellants:** Boston Ivy…
- **Respondents:** Remedium Lifecare…
- **Other parties:** Ravishankar…; Adarsh M…; +1 more
- **Advocates:** Siddhima…; Arjit K.…; +1 more

## Timeline

- **07.05.2025 — Application…**: The Operational Creditor, Boston Ivy Healthcare Solution Private Limited, filed the…
- **07.11.2023 — Date of D…**: The date of default as stated in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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