# In the matter of Anil Nutrients Ltd. IA 91 of 2018 In C.P. (I.B) No. 65-7-NCLT-AHM-2017

> NCLT judgment dated 2018-06-07. Citation: TCN-2018-NCLT-01314. The case involves an application filed on behalf of the resolution professional seeking an…

- **Court:** NCLT
- **Order date:** 7 Jun 2018
- **Citation:** TCN-2018-NCLT-01314
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/anil-nutrients-ltd-ia-91-of-2018-in-cp-ib-no-65-7-nclt-ahm-2017-0cd2cd2c

## Summary

### Background

The case involves an application filed on behalf of the resolution professional seeking an order for the liquidation of Anil Nutrients Limited, the Corporate Debtor. The company is registered with the ROC, Gujarat. The CIRP was initiated based on a petition filed by Anil Nutrients Limited under sections 33(1), 33(2), and 34(1) of the Insolvency and Bankruptcy Code, and an IRP was appointed.

## Facts

An application was filed by the resolution professional seeking liquidation of Anil Nutrients Limited, a Corporate Debtor registered in Gujarat. The CIRP was initiated under sections 33(1), 33(2), and 34(1) of the Insolvency and Bankruptcy Code. The COC, in its meeting on 2018-02-12, resolved to recommend liquidation due to the absence of a resolution plan. The COC members unanimously voted for liquidation. The Adjudicating Authority considered the petition and the unanimous voting of the COC members. The initial 180-day period for the Corporate Insolvency Resolution Process was to end on 2018-02-20.

## Issues and analysis

### Issue 1: Whether a liquidation order should be passed in respect of the Corporate Debtor, Anil Nutrients …

**Ratio:** The legal principle applied is that if the COC, representing the creditors, unanimously

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**Reasoning:** The court reasoned that since the COC members unanimously voted in favor of liquidation,

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**Interpretation:** This interprets the provisions of the Insolvency and Bankruptcy Code to mean

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**Application:** In this case, the unanimous vote of the COC members favoring liquidation,

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## Parties

- **Judges:** Harihar Prakash…
- **Respondents:** Anil Nutrients…; Shriraj Kh…

## Timeline

- **2018-02-12 — COC 3rd M…**: The COC resolved to recommend liquidation…
- **2018-02-20 — End of CIRP…**: The 180-day period provided for the Corporate Insolvency Resolution Process was to be…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33 — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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