# In the matter of Mars Remedies Pvt. Ltd. vs. BDH Industries Limited

> SC judgment dated 2023-05-02. Citation: TCN-2023-SC-00078. The case involves a civil appeal against an order of admission passed in a Corporate Insolvency…

- **Court:** SC
- **Order date:** 2 May 2023
- **Citation:** TCN-2023-SC-00078
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/mars-remedies-pvt-ltd-vs-bdh-industries-limited-67f916a0

## Summary

### Background

The case involves a civil appeal against an order of admission passed in a Corporate Insolvency Resolution Process (CIRP) initiated by a financial creditor against a corporate debtor. Another financial creditor sought to intervene, claiming the corporate debtor defaulted in payment, leading them to independently file an application under Section 7 of the Insolvency and Bankruptcy Code (IBC). The NCLT dismissed this application, but the NCLAT reversed the order. The corporate debtor filed a civil appeal against the NCLAT's order, which was later withdrawn. The NCLT then passed an order stating that the intervenor's application could not be considered at that stage but allowed the intervenor to restore the main application subject to the outcome of the appeal before the

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## Facts

Mars Remedies Pvt Ltd is the appellant in a civil appeal against BDH Industries Limited. The appeal arises from a Corporate Insolvency Resolution Process (CIRP). BDH Industries Limited, the respondent, initiated proceedings under Section 7 of the Insolvency and Bankruptcy Code (IBC) against Mars Remedies Pvt Ltd. Another financial creditor sought to intervene, claiming default by Mars Remedies Pvt Ltd and independently filing an application under Section 7 IBC. The NCLT dismissed the intervenor's application, but the NCLAT reversed this decision. Mars Remedies Pvt Ltd then filed a civil appeal against the NCLAT order, which was later withdrawn. The NCLT subsequently passed an order stating that the intervenor's application could not be considered at that stage but

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## Issues and analysis

### Issue 1: Whether two Corporate Insolvency Resolution Processes (CIRPs) can simultaneously proceed against …

**Ratio:** The legal principle is that generally, two CIRPs cannot simultaneously proceed against

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**Reasoning:** The court acknowledges the corporate debtor's contention that two simultaneous CIRPs are

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**Interpretation:** The interpretation of the IBC suggests that a single, comprehensive resolution

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**Application:** In this case, the court recognizes the potential for conflict and confusion if

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## Parties

- **Judges:** V. RAMASUBR…; PANKAJ M…
- **Appellants:** Mars Remedies Pvt…
- **Respondents:** BDH INDUSTRIES…

## Timeline

- **2023-05-02 — Hearing…**: The matter was called…
- **2019-01-01 — Respondent Filed…**: The respondent in the main Civil Appeal, filed a petition in CP(IB) NO.804/2019 under…

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