# In the matter of HYGEIA FRUIT AND VEGETABLE PROCESSORS PRIVATE LIMITED

> NCLT judgment dated 2026-02-19. Citation: TCN-2026-NCLT-00172. The application was filed by M/s Hygeia Fruit and Vegetable Processors Private Limited under…

- **Court:** NCLT
- **Order date:** 19 Feb 2026
- **Citation:** TCN-2026-NCLT-00172
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hygeia-fruit-and-vegetable-processors-private-limited-78100b1e

## Summary

### Background

The application was filed by M/s Hygeia Fruit and Vegetable Processors Private Limited under Section 10 of the Insolvency and Bankruptcy Code, 2016, read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, seeking initiation of the Corporate Insolvency Resolution Process.

## Facts

M/s Hygeia Fruit and Vegetable Processors Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016.

The Corporate Debtor sought initiation of CIRP due to an admitted default in repayment of financial debt amounting to Rs. 27,78,16,547/-.

The Corporate Debtor is a private limited company engaged in the business of processing and preservation of fruits and vegetables, incorporated on 23.05.1995.

The Corporate Debtor had availed secured financial assistance from The Himachal Pradesh State Co-operative Bank Ltd.

The loan account was classified as a Non-Performing Asset (NPA) on 31.08.2019.

The Financial Creditor initiated recovery proceedings under the SARFAESI Act and issued a Demand Notice dated 27.04.2022.

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## Issues and analysis

### Issue 1: Whether the application under Section 10 of the Insolvency and Bankruptcy Code, 2016 is complete …

**Ratio:** As per Section 10(3) of the Code, the Adjudicating Authority must be satisfied that all

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**Reasoning:** The Adjudicating Authority considered the documents filed by the Corporate Debtor,

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**Interpretation:** The Adjudicating Authority interpreted Section 10(3) to mean that if all

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**Application:** The Adjudicating Authority applied this interpretation to the facts of the case

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## Parties

- **Judges:** KHETRABASI…; SHISHIR A…
- **Appellants:** Mr Prashant…
- **Respondents:** M/S HYGEIA FRUIT…
- **Other parties:** The Himachal…; Bhavna B…
- **Advocates:** Mr Prashant…

## Timeline

- **2019-08-31 — NPA Decla…**: Loan account classified as…
- **2022-04-27 — Demand N…**: Financial Creditor issued a Demand Notice…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 11 — Persons not entitled to make application](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-11)

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