# In the matter of Amrit Fresh Private Limited IA (IB) No. 837-KB-2020 in CP (IB) No. 263-KB-2018

> NCLT judgment dated 2020-12-24. Citation: TCN-2020-NCLT-00013. The case pertains to an application under Section 30(6) of the Insolvency and Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 24 Dec 2020
- **Citation:** TCN-2020-NCLT-00013
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/amrit-fresh-private-limited-ia-ib-no-837-kb-2020-in-cp-ib-no-263-kb-2018-b81ba2b2

## Summary

### Background

The case pertains to an application under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, for the approval of a Resolution Plan submitted for Amrit Fresh Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by Bank of India under Section 7 of the IBC, which was admitted on July 10, 2019. The Resolution Professional (RP) issued invitations for Expressions of Interest (EoIs) and received a Resolution Plan from Indian Ocean Group Pte. Ltd., which was subsequently revised and approved by the Committee of Creditors (CoC).

## Facts

Amrit Fresh Private Limited underwent Corporate Insolvency Resolution Process (CIRP) following the admission of a petition filed by Bank of India under Section 7 of the Insolvency and Bankruptcy Code (IBC) on July 10, 2019. Niraj Agrawal was appointed as the Resolution Professional (RP). The RP issued invitations for Expressions of Interest (EoIs) and received one from Ugraya Foods and Feed Private Limited, which was later withdrawn. Subsequently, a Resolution Plan was received from Indian Ocean Group Pte. Ltd. The CoC held multiple meetings to discuss and negotiate the Resolution Plan, resulting in a revised plan. The CoC approved the modified Resolution Plan with a 100% majority. The Resolution Applicant provided a performance security. The RP valued the assets of

…

## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by Indian Ocean Group Pte. Ltd. complies with the …

**Ratio:** The legal principle is that a Resolution Plan must meet the mandatory requirements

…

**Reasoning:** The Adjudicating Authority reviewed the Resolution Plan and found that it included

…

**Interpretation:** Sections 30 and 31 of the IBC outline the mandatory requirements for a

…

**Application:** The Adjudicating Authority applied the legal principle to the specific facts of

…

## Parties

- **Judges:** Rajasekha…; Harish Chander…
- **Appellants:** Bank of…
- **Respondents:** Amrit Fresh…

## Timeline

- **2018-01-01 — Filing of Company…**: Company petition in CP (IB) No.263/KB/2018 was filed by Bank of India against Amrit Fresh…
- **2019-07-10 — Admission of Company…**: Company petition in CP (IB) No. 263/KB/2018…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/amrit-fresh-private-limited-ia-ib-no-837-kb-2020-in-cp-ib-no-263-kb-2018-b81ba2b2