# In the matter of J M FEED MILLS PRIVATE LIMITED

> NCLT judgment dated 2025-08-08. Citation: TCN-2025-NCLT-01183. The case pertains to an application filed by the Resolution Professional, Mr. Somnath Gupta,…

- **Court:** NCLT
- **Order date:** 8 Aug 2025
- **Citation:** TCN-2025-NCLT-01183
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/j-m-feed-mills-private-limited-b08741f0

## Summary

### Background

The case pertains to an application filed by the Resolution Professional, Mr. Somnath Gupta, for the liquidation of JM Feed Mills Pvt. Ltd., the Corporate Debtor, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The Corporate Debtor was admitted into CIRP vide order dated 10.01.2023, following a petition filed by the Financial Creditor, Bank of Baroda.

## Facts

An insolvency petition under Section 7 of the Code was filed by Bank of Baroda, the Financial Creditor, against JM Feed Mills Pvt. Ltd.

The Corporate Debtor was admitted into CIRP vide order dated 10.01.2023.

Mr. Somnath Gupta was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP).

Form G was published twice, inviting Expression of Interest (EOI) from prospective resolution applicants.

Six expressions of interest were received, and four resolution plans were submitted.

The CoC rejected all resolution plans in its 10th meeting dated 26.09.2023.

The CoC approved the resolution for liquidation of the Corporate Debtor with 100% voting shares.

The IRP appointed IBBI Registered Valuers for valuation of assets of the Corporate Debtor.

…

## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor under Section 33(2) of the …

**Ratio:** Section 33(2) of the

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**Reasoning:** The CoC, in its commercial wisdom, decided to liquidate the Corporate Debtor after

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**Interpretation:** The Adjudicating Authority has the power to allow the liquidation application

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**Application:** The Adjudicating Authority, being satisfied with the conditions, allowed the

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## Parties

- **Judges:** KHETRABASI…; KAUSHALENDRA…
- **Appellants:** Somnath…
- **Respondents:** JM Feed Mills…
- **Other parties:** Bank of B…; ASHOK KUMAR…
- **Advocates:** Viren S…

## Timeline

- **2023-01-10 — Admission in…**: The Corporate Debtor was admitted into…
- **2023-02-06 — First CoC M…**: The IRP placed the agenda for appointment…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33 — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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