# In the matter of Hygiene Feeds & Farms Private Ltd. CP (IB) No.304-Chd-Hry-2018

> NCLT judgment dated 2019-04-26. Citation: TCN-2019-NCLT-03686. The case involves a petition filed by M/s Shankar Nutricon Pvt. Ltd. under Section 9 of the…

- **Court:** NCLT
- **Order date:** 26 Apr 2019
- **Citation:** TCN-2019-NCLT-03686
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hygiene-feeds-farms-private-ltd-cp-ib-no304-chd-hry-2018-0c7e66c1

## Summary

### Background

The case involves a petition filed by M/s Shankar Nutricon Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against M/s Hygiene Feeds & Farms Private Ltd. The petition was admitted on January 24, 2019, and a moratorium was declared. Ms. Karuna Sharma was appointed as the Interim Resolution Professional (IRP).

## Facts

M/s Shankar Nutricon Pvt. Ltd. filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process (CIRP) against M/s Hygiene Feeds & Farms Private Ltd. The Adjudicating Authority admitted the petition on January 24, 2019, declared a moratorium, and appointed Ms. Karuna Sharma as the Interim Resolution Professional (IRP). Subsequently, the National Company Law Appellate Tribunal (NCLAT) heard an appeal and set aside the orders passed by the Adjudicating Authority, including the appointment of the IRP and the declaration of the moratorium. The application under Section 9 of the I&B Code was disposed of as withdrawn. The 2nd Respondent Company was released from all the rigour of law and is allowed to

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority's order initiating the Corporate Insolvency Resolution Process …

**Ratio:** The decision of a higher appellate authority (NCLAT) is binding on the Adjudicating

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**Reasoning:** The NCLAT, being the appellate authority, has the power to review and reverse the

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**Interpretation:** The legal framework provides for appellate review to correct errors or

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**Application:** In this case, the NCLAT's decision to set aside the Adjudicating Authority's

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## Parties

- **Judges:** M.K. Sh…; Pradeep R.…
- **Appellants:** Robin D…
- **Respondents:** M/s Hygiene Feeds…; M/s Shankar…

## Timeline

- **2019-01-24 — Petition Ad…**: The petition filed by M/s Shankar Nutricon Pvt. Ltd. was admitted by the Adjudicating…
- **2019-01-31 — Moratorium D…**: A moratorium was declared in terms of…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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