EVEREST ORGANICS LTD. Vs. LEESA LIFESCIENCES PVT. LTD

JUDGEMENT

(1.) The petitioner, which is a company registered under the Companies Act, has filed the present writ petition being aggrieved by the order dated 16.09.2021 passed by the National Company Law Tribunal, Hyderabad.

(2.) The facts of the case reveal that one Dr S.K.Srihari Raju, Financial Creditor representing the Everest Organics Limited has filed a Company Petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (for short, 'IBC ') against a Corporate Debtor M/s. Leesa Life Sciences Private Limited before the NCLT, Hyderabad Bench and the petition was admitted on 28.01.2020. Mr. Anjaneyulu Sadhu was initially appointed as an Interim Resolution Professional (for short, 'IRP ') and he has issued an Invitation for Expression of Interest on 16.06.2020. The respondent No.3 in the present case, pursuant to the Invitation for Expression of Interest from the eligible Resolution Applicants issued by the former IRP, submitted a resolution proposal in the matter. The proposal was submitted by the petitioner company also and the Committee of Creditors has rejected the proposal submitted by the petitioner company.

(3.) The present petition, while the proceedings are going on before the National Company Law Tribunal, has challenged the order dated 16.09.2021 before this Court. The Order dated 16.09.2021 is reproduced as under:-