# In the matter of MANPASAND BEVERAGES LIMITED

> NCLT judgment dated 2025-11-19. Citation: TCN-2025-NCLT-01845. Rajaram Food Products India Limited, formerly known as Capricorn Food Products India Limited,…

- **Court:** NCLT
- **Order date:** 19 Nov 2025
- **Citation:** TCN-2025-NCLT-01845
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/manpasand-beverages-limited-c513843b

## Summary

### Background

Rajaram Food Products India Limited, formerly known as Capricorn Food Products India Limited, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Manpasand Beverages Limited, seeking to initiate the Corporate Insolvency Resolution Process (CIRP) for outstanding dues of Rs. 4,44,15,092/- along with an interest amount of Rs. 61,72,156/-.

## Facts

The application was filed under Section 9 of the Insolvency and Bankruptcy Code, 2016.

The applicant, Rajaram Food Products India Ltd, claimed outstanding dues of Rs. 4,44,15,092/- along with interest of Rs. 61,72,156/-.

The corporate debtor, Manpasand Beverages Limited, disputed the claim, alleging pre-existing disputes and bogus invoices.

The applicant had undergone CIRP and was acquired by a Successful Resolution Applicant (SRA).

The GST department had issued orders indicating bogus transactions involving the applicant and other parties.

The Tribunal found that the application was complete, the operational debt existed, and there was no valid pre-existing dispute.

The Tribunal admitted the petition and initiated CIRP against the corporate debtor.

## Issues and analysis

### Issue 1: Whether the application is …

**Ratio:** The application was found to be complete and maintainable as it complied with the

…

**Reasoning:** The Tribunal noted that all columns and parts of Form 5 were correctly filled, and the

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**Interpretation:** The completeness of the application is a prerequisite for its admissibility

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**Application:** The Tribunal examined the application and supporting documents to ensure

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## Parties

- **Judges:** SHAMMI…; SANJEEV S…
- **Appellants:** Rajaram Food…; Rajaram Food…
- **Respondents:** Manpasand…; Manpasand…
- **Other parties:** Rahul…; Dinesh…; +3 more
- **Advocates:** T. Ravich…; Lavany…; +4 more

## Timeline

- **2019-XX-XX — Original…**: The Company Petition was originally filed by the Applicant in the year 2019 under Section…
- **2021-03-09 — Disposal of P…**: The Petition came to be disposed of on 09.03.2021, as the Corporate Debtor had been…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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