# 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-01123. 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-01123
- **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-ceb78ff3

## 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 due to the absence of a Resolution Plan. An earlier application (IA (IB) No.525/KB/2020) was filed by a Financial Creditor challenging the RP's decision to admit the claim of New Hind Silk House P. Ltd. and include them in the Committee of Creditors (CoC). The Adjudicating Authority had dismissed this earlier application on 17.06.2020, and an appeal (Company Appeal (AT) (Insolvency) No.615 of 2020) was preferred against that order.

## Facts

P.M. Cold Storage Private Limited is the Financial Creditor. Goouksheer Farm Fresh Private Limited is the Corporate Debtor undergoing the Corporate Insolvency Resolution Process (CIRP). Sanjeev Kumar Jhunjhunwala is the Resolution Professional (RP) for the Corporate Debtor. The RP filed an application (IA (IB) No.751/KB/2020) seeking liquidation of the Corporate Debtor due to the absence of a Resolution Plan. New Hind Silk House P. Ltd.'s inclusion in the CoC was challenged by the Financial Creditor, leading to an appeal against the Adjudicating Authority's order dated 17.06.2020. The Adjudicating Authority had previously adjourned the liquidation application pending the appeal's outcome. The RP had encashed the only asset of the Corporate Debtor but had not refunded

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## Issues and analysis

### Issue 1: Whether the liquidation application should be considered while the constitution of the Committee of …

**Ratio:** Judicial propriety demands that the outcome of the appeal be awaited before the Corporate

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**Reasoning:** Allowing the liquidation application while the CoC's constitution is under challenge

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**Interpretation:** The principle of judicial propriety requires that courts avoid taking actions

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**Application:** In this case, allowing the liquidation application would potentially lead to

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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…
- **2020-01-01 — Appeal F…**: An appeal (Company Appeal (AT) (Insolvency) No.615 of 2020) was preferred against the…

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