Page 546 - IBC Orders us 7-CA Mukesh Mohan

Order Passed under Sec 7
By Hon’ble NCLT Hyderabad Bench
IN THE NATIONAL COMPANY LAW TRIBUNAL

HYDERABAD BENCH

C.P. (I.B.) No. 81/7/NCLT/HDB/2017

Decided On: 08.08.2017

Applicants: Mr. Gondimalla Madhu Mohan
Mr. Kolanu Jaya Reddy
Mr. K. Subba Reddy
Mr. Pabba Amarnath
Vs
Respondent: Aayusidhhi Life Sciences Private Limited

Judges/Coram:
Hon'ble Shri Rajeswara Rao Vittanala, J. (Member (J))

Counsels:
For Appellant/Petitioner/Plaintiff: Shri A Nagraj Kumar, Learned Advocate

For Respondents/Defendant: Shri Y. Suryanarayana, Learned Advocate

ORDER

Hon'ble Shri Rajeswara Rao Vittanala, Member (J)

1. The present Company petition bearing CP No. 81/7/HDB/2017 was filed under Section 7 of
Insolvency and Bankruptcy Code 2016 read with Rule 4 of Insolvency and Bankruptcy (Application to

Adjudicating Authority) Rules, 2016 to initiate Corporate Insolvency Resolution Process against
Aayusiddhi Life Sciences Private Limited.

2. Four individuals have filed a Joint Application claiming as Financial Creditors to initiate CIRP
against Corporate Debtor namely Aayusiddhi Life Sciences Private Limited.

3. The above referred Application was filed on 16th May 2017, and registry of NCLT vide letter
dated 25th May 2017, requested the Applicants to comply with certain defects within 7 days of date of
letter.

4. The case was first listed before Adjudicating Authority on June 2017. The
counsel requested some more time to submit requested documents/clarify the legal position and

maintainability of case. Petitioner was also directed to take personal notice to Corporate Debtor and
submit proof of service and case was posted to 21.06.2017. The case was further posted on 28.06.2017,

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