# In the matter of Himadri Foods Limited CP (IB) No. 4336-MB-2019

> NCLT judgment dated 2020-12-09. Citation: TCN-2020-NCLT-00123. The matter was taken up on VC, with counsel present for both sides. The debt and default…

- **Court:** NCLT
- **Order date:** 9 Dec 2020
- **Citation:** TCN-2020-NCLT-00123
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/himadri-foods-limited-cp-ib-no-4336-mb-2019-6ee04be6

## Summary

### Background

The matter was taken up on VC, with counsel present for both sides. The debt and default pleaded by the Petitioner were admitted. The Corporate Debtor Company was unable to repay the debt. The Company Petition was allowed based on the admission.

## Facts

Pentaaleon Packaging LLP filed a company petition against Himadri Foods Limited. The court took up the matter on VC, with counsel present for both sides. The debt and default pleaded by the Petitioner were admitted by both sides. The Corporate Debtor Company, Himadri Foods Limited, was not in a position to repay the debt. The court admitted the company petition and initiated the Corporate Insolvency Resolution Process (CIRP). Mr. Ramchandra Dallaram Choudhary was appointed as the Interim Resolution Professional (IRP). A moratorium was declared under Section 14 of the Code.

## Issues and analysis

### Issue 1: Whether the Company Petition should be admitted given the admission of debt and default by the …

**Ratio:** The admission of debt and default by the Corporate Debtor provides sufficient grounds for

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**Reasoning:** The court reasoned that since both sides admitted the debt and default pleaded by the

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**Interpretation:** The admission of debt and default is a critical factor in determining whether

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**Application:** In this case, the admission of debt and default by Himadri Foods Limited led

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## Parties

- **Judges:** Ravikumar…; Janab Mohammed…; +1 more
- **Appellants:** Pentaaleon…
- **Respondents:** Himadri Foods…

## Timeline

- **2020-12-09 — Order Da…**: Order issued by the NCLT admitting the…
- **N/A — CIRP Init…**: Corporate Insolvency Resolution Process…

## Legal provisions

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

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