# In the matter of Amira Pure Foods Pvt. Ltd. IB-846-ND-2018

> NCLT judgment dated 2020-02-17. Citation: TCN-2020-NCLT-01915. The Resolution Professional moved an application for the appointment of a liquidator as the COC…

- **Court:** NCLT
- **Order date:** 17 Feb 2020
- **Citation:** TCN-2020-NCLT-01915
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/amira-pure-foods-pvt-ltd-ib-846-nd-2018-635fbcda

## Summary

### Background

The Resolution Professional moved an application for the appointment of a liquidator as the COC in its meeting on November 7, 2019, resolved to commence the liquidation process due to the absence of a resolution plan under Sub-section (6) of Section 30. The RP agreed and consented to act as liquidator. The Liquidator's remuneration was reduced from 3 Lakhs to 2.25 lakhs per month. 93% of the Committee of Creditors consented and voted in favor, which was confirmed by the Tribunal. The appointment of Mr. Akash Singhal as liquidator was confirmed, and he was directed to file his next progress report as per the terms of the IBC, 2016. Additionally, an application (IA-63/C-VI/ND/2019) was filed for avoidance of transactions under Section 25 (2J) read with Sections 43, 45,

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## Facts

M/s. Amira Pure Foods Pvt. Ltd. is undergoing corporate insolvency resolution process under Section 9 of the IBC. The Resolution Professional moved an application for the appointment of a liquidator after the Committee of Creditors (COC) resolved to commence liquidation due to the absence of a resolution plan under Section 30(6) of the IBC. The COC approved the liquidator's appointment with 93% consent, and the Tribunal confirmed the appointment of Mr. Akash Singhal as the liquidator. The liquidator's remuneration was reduced to 2.25 lakhs per month. An application for avoidance of transactions under Section 25(2J) read with Sections 43, 45, and 66 of the IBC was also filed. Shrey Patnaik accepted notice on behalf of respondent no. 11 and sought time for filing reply.

## Issues and analysis

### Issue 1: Whether the appointment of a liquidator is justified given the failure of the resolution process …

**Ratio:** Section 30(6) of the IBC stipulates that if no resolution plan is approved, the

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**Reasoning:** The court reasoned that since no resolution plan was received, the liquidation process

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**Interpretation:** Section 30(6) mandates liquidation when no resolution plan is approved,

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**Application:** Since no resolution plan was received, the Tribunal applied Section 30(6) and

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## Parties

- **Judges:** P.S.N. P…; V.K. SUB…
- **Appellants:** M/s Baru Mal…
- **Respondents:** M/s. Amira Pure…

## Timeline

- **2019-11-07 — COC Meet…**: The Committee of Creditors resolved to commence the liquidation process due to the…
- **2020-02-17 — Order Del…**: The Tribunal confirmed the appointment of Mr. Akash Singhal as liquidator and directed…

## 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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