# 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-03683. 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-03683
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/hygiene-feeds-farms-private-ltd-cp-ib-no304-chd-hry-2018-1da4ccc2

## 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 the Corporate Insolvency Resolution Process (CIRP) against M/s Hygiene Feeds & Farms Private Ltd., claiming to be an operational creditor. The NCLT admitted the petition on January 24, 2019, declared a moratorium, and appointed Ms. Karuna Sharma as the Interim Resolution Professional. Subsequently, an appeal was filed before the NCLAT. The NCLAT set aside the NCLT's order, disposed of the Section 9 application as withdrawn, and allowed M/s Hygiene Feeds & Farms Private Ltd. to function independently.

## Issues and analysis

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

**Ratio:** The ratio is based on the appellate tribunal's power to review and set aside orders of

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**Reasoning:** The NCLAT set aside the Adjudicating Authority's order, implying that there were grounds

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**Interpretation:** The interpretation is that the appellate tribunal has the authority to correct

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**Application:** The NCLAT's decision to set aside the Adjudicating Authority's order

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## Parties

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

## Timeline

- **2019-01-24 — Admission of…**: The petition filed by M/s Shankar…
- **2019-01-31 — Moratorium D…**: A moratorium was declared, and Ms. Karuna Sharma was appointed as the Interim Resolution…

## 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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