ORDER

1. The instant application was filed on 19.03.2021 by M/s Mahaveer Medicare (hereinafter referred to as ’Operational Creditor/ Applicant) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred as the “I & B Code, 2016”) read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 (hereinafter referred as “the Rules”). The prayer made therein is to initiate Corporate Insolvency Resolution Process (hereinafter referred as ‘CIRP’) against M/s Rancom Healthcare Private Limited (hereinafter referred as ‘Respondent-Corporate Debtor’) due to default in payment of total outstanding amount of Rs. 11,11,63,901 /- (Rupees Eleven Crores Eleven Lakhs, Sixty-Three Thousand Nine Hundred One) with the date of default mentioned in the application as 25.09.2018.

2. As stated in the application, the Operational Creditor i.e. M/s Mahaveer Medicare, is an all-India consignee agent of Cipla Limited engaged in the business of marketing, sale and distribution of pharmaceutical products, including generic 3 medicines (hereinafter referred to as ’Products’) manufactured by Cipla Limited, all over India, through its sub-agents locate