# In the matter of Vital Laboratories Pvt. Ltd.

> NCLT judgment dated 2023-07-20. Citation: TCN-2023-NCLT-05281. M/s Kimika GMpsol Pvt. Ltd. filed a company petition seeking to initiate Corporate Insolvency…

- **Court:** NCLT
- **Order date:** 20 Jul 2023
- **Citation:** TCN-2023-NCLT-05281
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/vital-laboratories-pvt-ltd-ea6c8439

## Summary

### Background

M/s Kimika GMpsol Pvt. Ltd. filed a company petition seeking to initiate Corporate Insolvency Resolution Process (CIRP) against Vital Laboratories Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016, for an unresolved operational debt of Rs. 1,12,18,968/-.

## Facts

M/s Kimika GMpsol Pvt. Ltd. (Operational Creditor) filed a petition to initiate CIRP against Vital Laboratories Pvt. Ltd. (Corporate Debtor) for an operational debt of Rs. 1,12,18,968/-.

Dr. Anil Balkrishna Ghogare was appointed as a consultant of Vital Laboratories Pvt. Ltd. in 2008 and later became a director in 2014.

Kimika GMpsol Pvt. Ltd. was incorporated in 2018 by Dr. Ghogare and his family to continue their consultancy services.

A consultancy agreement was entered into between the Corporate Debtor and the Operational Creditor, with consultancy fees to be paid to the Operational Creditor.

…

## Issues and analysis

### Issue 1: Whether the petition is barred by Section 10A of …

**Ratio:** Section 10A of the Code bars the initiation of CIRP for defaults occurring during the

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**Reasoning:** The first invoice, dated 6th March 2021, falls

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**Interpretation:** Section 10A prohibits the initiation of CIRP for defaults occurring during the

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**Application:** Since the first invoice, which forms a part of the claim, falls within the

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## Parties

- **Judges:** H.V. Subb…; Madhu S…
- **Appellants:** M/S KIMIKA GMPSOL…
- **Respondents:** Vital Laboratories…
- **Advocates:** Raghav…; Treesa Ann…; +2 more

## Timeline

- **2008 — Appointment of…**: Dr. Anil Balkrishna Ghogare was appointed as a…
- **2014 — Director In…**: Dr. Ghogare was inducted as a director on the…

## 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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