# In the matter of Goouksheer Farm Fresh Private Limited IA (IB) No. 751-KB-2020 in CP (IB) No.1582-KB-2019

> NCLT judgment dated 2021-09-14. Citation: TCN-2021-NCLT-01118. The case involves an application (IA (IB) No.751/KB/2020) filed by the Resolution Professional…

- **Court:** NCLT
- **Order date:** 14 Sept 2021
- **Citation:** TCN-2021-NCLT-01118
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/goouksheer-farm-fresh-private-limited-ia-ib-no-751-kb-2020-in-cp-ib-no1582-kb-20-9a4e7261

## Summary

### Background

The case involves an application (IA (IB) No.751/KB/2020) filed by the Resolution Professional (RP) of Goouksheer Farm Fresh Private Limited (Corporate Debtor) seeking liquidation of the Corporate Debtor due to the absence of a Resolution Plan approved by the Committee of Creditors (CoC). However, an earlier application (IA (IB) No.525/KB/2020) filed by a Financial Creditor challenged the RP's decision to admit the claim of another Financial Creditor, New Hind Silk House P. Ltd., and include them in the CoC. An appeal (Company Appeal (AT) (Insolvency) No.615 of 2020) was preferred against the Adjudicating Authority's order dismissing the challenge to the inclusion of New Hind Silk House P. Ltd. in the CoC.

## Facts

P.M. Cold Storage Private Limited is a Financial Creditor. Goouksheer Farm Fresh Private Limited is the Corporate Debtor. The Resolution Professional (RP) of Goouksheer Farm Fresh Private Limited filed an application (IA (IB) No.751/KB/2020) seeking liquidation of the Corporate Debtor because no resolution plan was received. An application (IA (IB) No.525/KB/2020) was filed by the Financial Creditor challenging the inclusion of New Hind Silk House P. Ltd. in the CoC, claiming their inclusion was time-barred. The Adjudicating Authority dismissed this application on 17.06.2020. An appeal (Company Appeal (AT) (Insolvency) No.615 of 2020) was filed against the order dated 17.06.2020. The Adjudicating Authority had adjourned the liquidation application several times

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## Issues and analysis

### Issue 1: Whether the liquidation application can be allowed when the constitution of the Committee of …

**Ratio:** Judicial propriety demands that the outcome of the appeal affecting the constitution of

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**Reasoning:** Allowing the liquidation application while the appeal is pending would defeat the purpose

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**Interpretation:** The court interprets the principles of judicial propriety to require that

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**Application:** Since the appeal challenges the inclusion of a creditor in the CoC, and the

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## Parties

- **Judges:** Rajasekha…; Harish Chander…
- **Respondents:** GOOUKSHEER FARM…

## Timeline

- **2020-06-17 — Order by Adjudicating…**: The Adjudicating Authority dismissed the application challenging the inclusion of New…
- **2020-10-08 — Adjournment of IA (IB)…**: The Adjudicating Authority…

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