# In the matter of Chhatrapati Agro Food Manufacturing Company Ltd. C.P. (IB) 2251-(MB)-2019

> NCLT judgment dated 2019-11-07. Citation: TCN-2019-NCLT-00678. The case pertains to a Company Petition filed under Section 7 of the Insolvency & Bankruptcy…

- **Court:** NCLT
- **Order date:** 7 Nov 2019
- **Citation:** TCN-2019-NCLT-00678
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/chhatrapati-agro-food-manufacturing-company-ltd-cp-ib-2251-mb-2019-0d9b4592

## Summary

### Background

The case pertains to a Company Petition filed under Section 7 of the Insolvency & Bankruptcy Code, 2016. The hearing took place at the Mumbai Bench of the National Company Law Tribunal on November 7, 2019. The parties involved are UCO Bank as the applicant and Chhatrapati Agro Food manufacturing Co Ltd as the corporate debtor.

## Facts

UCO Bank filed a Company Petition against Chhatrapati Agro Food manufacturing Co Ltd under Section 7 of the Insolvency & Bankruptcy Code, 2016. The case was heard by the Mumbai Bench of the National Company Law Tribunal on November 7, 2019. After hearing the arguments of the petitioner's counsel, the NCLT admitted the petition. Mr. Sachin Rajendra Singhavi, holding Registration No. IBBI/IPA-001/IP-P-01289/2018-2019/12066, was appointed as the Interim Resolution Professional (IRP). A detailed judgment is to be issued later. The key fact is the admission of the petition, which triggers the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor.

## Issues and analysis

### Issue 1: Whether the Company Petition filed by UCO Bank against Chhatrapati Agro Food manufacturing Co Ltd …

**Ratio:** Section 7 of the Insolvency & Bankruptcy Code, 2016 allows a financial creditor to

…

**Reasoning:** The NCLT heard the arguments of the Ld. Counsel for the Petitioner (UCO Bank) and, based

…

**Interpretation:** Section 7 provides a mechanism for financial creditors to recover their dues

…

**Application:** In this case, the NCLT applied Section 7 to the facts presented by UCO Bank. By

…

## Parties

- **Judges:** Bhaskara Pantula…; RAJESH S…
- **Appellants:** UCO B…
- **Respondents:** Chhatrapati Agro…

## Timeline

- **2019-11-07 — Hearing…**: Hearing of the Mumbai Bench of the…
- **2019-11-07 — Admission of Company…**: The Company Petition filed…

---

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/chhatrapati-agro-food-manufacturing-company-ltd-cp-ib-2251-mb-2019-0d9b4592