SL. No.1

NATIONAL COMPANY LAW TRIBUNAL

HYDERABAD BENCH COURT HALL NO: II

Hearing Through: VC and Physical (Hybrid) Mode

CORAM: SHRI. RAJEEV BHARDWAJ, HON’BLE MEMBER (J)

CORAM: SHRI. SANJAY PURI, - HON’BLE MEMBER (T)

ATTENDANCE-CUM-ORDER SHEET OF THE HEARING OF NATIONAL COMPANY LAW TRIBUNAL,

HYDERABAD BENCH, HELD ON 19.04.2024 AT 10:30 AM

TRANSFER PETITION NO.

COMPANY PETITION/APPLICATION NO. Company Petition IB/292/2022 NAME OF THE COMPANY Mylan Pharmaceuticals Pvt Ltd

NAME OF THE PETITIONER(S) Dotcom Pharma Pvt Ltd

NAME OF THE RESPONDENT(S) Mylan Pharmaceuticals Pvt Ltd

UNDER SECTION 9 of IBC

ORDER

Orders pronounced, recorded vide separate sheets. In the result, the petition is

dismissed with costs of Rs.50,000/-.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Apoorva

NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH II Initiation of Corporate Insolvency Resolution Process under Chapter II of Part II of the Insolvency and Bankruptcy Code, 2016 read with Rule 6 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 In the matter of M/s.Mylan Pharmaceuticals Private Limited:

M/s.Dotcom Pharma Private Limited, Having its Registered Office at:

Unit No.5, 9^th Floor, Tower A, Plot No.40, Sector 62 Noida, Gautam Buddha Nagar, Uttar Pradesh – 201 301.

….Applicant/Operational Creditor Versus M/s.Mylan Pharmaceuticals Private Limited, Having its Registered Office at: Plot No.564/A/22, Road No.92, Jubilee Hills, Hyderabad, Telangana – 500 096.

….Respondent Company/Corporate Debtor Date of Order: 19.04.2024 Coram:

Shri. Rajeev Bhardwaj, Hon’ble Member (Judicial)

Shri .Sanjay Puri, Hon’ble Member (Technical)

Counsel/Parties present:

For the Applicant : Mr.Y.Suryanarayana and Ms.Mano Ranjani, Counsels For the Respondent : Mr.S.Ravi, Senior Counsel along with Ms. Achala Siri and Ms. Siva Praneetha, Counsels Per : Sri Rajeev Bhardwaj, Hon’ble Member(Judicial)

O R D E R

1. This Application has been filed under Section 9 of the IBC by M/s.Dotcom Pharma Private Limited (hereinafter referred as Applicant/Operational Creditor-OC) to initiate Corporate Insolvency Resolution Process (CIRP) against M/s.Mylan Pharmaceuticals Private Limited (hereinafter referred as Respondent/Corporate Debtor-CD).

2. Case of the Applicant a) The Applicant is a Micro Small and Medium Enterprises (MSME)

Private Limited Company dealing in the business of Drugs and Druggists Sundries Merchant Wholesalers, while the Respondent is a Private Limited Company and is in the business of Research, Manufacture and Distributors of Drugs and Medicines.

b) The Corporate Debtor is exclusive distributor in India of Sovaldi tablets being manufactured by M/s.Gilead Sciences Inc, USA .

c) M/s.Deep Healthcare Enterprises, a super speciality pharmaceutical distribution firm, is an Authorised Stockists/Distributor of the Corporate Debtor (hereinafter referred as CD’s Authorised Distributor).

d) The Operational Creditor purchased 1000 packs of Sovaldi tablets vide Invoice No.DHE-18/19/001547 dated 02.08.2018 (Annexure A08 of the Application) for a sum of Rs.1,82,00,000/-.

e) The Operational Creditor could sell only 210 packs of Sovaldi tablets until May, 2019 and therefore asked the supplier to take back unsold 760 packs of Sovaldi tablets. This is also the policy of the Corporate Debtor to take back the unsold packs of Sovaldi tablets.

f) Accordingly, the Operational Creditor raised Debit Notes and returned 760 packs of Sovaldi tablets on 02.11.20219 and 10.02.2020 (Annexure A10 of the Application)

g) The amount of Rs.33,50,164/- was also remitted on different dates by the Authorised Distributor as evidenced from the Bank Statement.

(Annexure A11 of the Application).

h) When the Respondent did not return back remaining payment of Rs.1,00,44,336/-, the Applicant/Operational Creditor sent Legal Notice dated 16.12.2020 (Annexure A13 of the Application) asking for the payment and in response thereof, the CD has sent reply dated

31.12.2020 .(Annexure A14 of the Application)

i) However, payment was not made despite the Legal