# In the matter of NEESA AGRITECH AND FOODS LIMITED

> NCLT judgment dated 2026-02-03. Citation: TCN-2026-NCLT-00122. The application was filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016,…

- **Court:** NCLT
- **Order date:** 3 Feb 2026
- **Citation:** TCN-2026-NCLT-00122
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/neesa-agritech-and-foods-limited-013077f2

## Summary

### Background

The application was filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking the initiation of the Liquidation Process.

## Facts

State Bank of India filed an application under Section 33(2) of the IBC to initiate the liquidation process of Neesa Agritech and Foods Limited.

The Committee of Creditors (CoC) approved the liquidation of the corporate debtor with 78.24% of the voting shares.

Mr. Premraj Ramratan Laddha was initially proposed as the Liquidator.

The Adjudicating Authority appointed Mr. Bhavik Haribhai Rupapara as the Liquidator.

The Moratorium declared earlier ceased to exist from the date of the liquidation order.

The Liquidator is directed to issue a public announcement regarding the liquidation of the Corporate Debtor.

Other IAs were withdrawn by the applicant.

## Issues and analysis

### Issue 1: Whether to allow the application for …

**Ratio:** The CoC approved the liquidation

…

**Reasoning:** The Adjudicating Authority considered the CoC's decision and the provisions of Section

…

**Interpretation:** Section 33(2) allows the Adjudicating Authority to pass an order for

…

**Application:** The application was allowed, and the

…

## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** State Bank of…
- **Respondents:** Neesa Agritech…
- **Other parties:** Prem La…; Bhavik Haribhai…; +1 more
- **Advocates:** Atul Sh…; Priyank…; +1 more

## Timeline

- **2026-02-03 — Order deliv…**: Order delivered on 03/02/2026 regarding the liquidation of Neesa Agritech and Foods…
- **2024-05-27 — CoC Meet…**: 16th meeting of CoC dated 27.05.2024 (adjourned to 28.05.2024) have passed a resolution…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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