# Parmod Sharma vs. M/S Emsons Organics Ltd.

> NCLT judgment dated 2026-09-24. Citation: TCN-2026-NCLT-01041. The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Emsons Organics…

- **Court:** NCLT
- **Order date:** 24 Sept 2026
- **Citation:** TCN-2026-NCLT-01041
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/prem-chand-goyal-vs-ms-emsons-organics-ltd-iv92i

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Emsons Organics Ltd. (Corporate Debtor) by Parmod Sharma, an Operational Creditor. The petition was admitted, and after an Interim Resolution Professional (Dr Tarun Goel) was appointed, Mr. Prem Chand Goyal was appointed as the Resolution Professional. As no resolution plan was received, the Corporate Debtor was ordered into liquidation, with Mr. Prem Chand Goyal appointed as the Liquidator.

## Facts

The present application (IA(IBC)/199(CH)2022) was filed by Mr. Prem Chand Goyal, Liquidator of M/s Emsons Organics Limited, under Section 54 of the IBC, 2016, seeking dissolution of the Corporate Debtor.

The main Company Petition (CP(IB) No.153/Chd/Pb/2019) was filed by Parmod Sharma, an Operational Creditor, under Section 9 of the Code, seeking initiation of CIRP against M/s Emsons Organics Ltd.

The Company Petition was admitted by the Adjudicating Authority on 27.09.2019, and Dr Tarun Goel was appointed as the Interim Resolution Professional (IRP).

Pursuant to the Committee of Creditors' decision on 30.10.2019, Mr. Prem Chand Goyal was appointed as the Resolution Professional (RP) on 18.11.2019.

No resolution plan was received during the CIRP period.

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## Issues and analysis

### Issue 1: Whether the assets of the Corporate …

**Ratio:** The Adjudicating Authority found that the Liquidator had completed the process of

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**Reasoning:** The Liquidator conducted two rounds of e-auction, selling land and other assets,

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**Interpretation:** Section 54(1) of the IBC requires the liquidator to apply for dissolution once

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**Application:** The Liquidator's actions, including successful e-auctions, collection of funds,

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## Parties

- **Judges:** HON’BLE MR.…; MR SHISHIR…
- **Appellants:** Prem Chand…; Parmod S…
- **Respondents:** M/S Emsons…
- **Other parties:** Committee of…; Suspended…; +6 more
- **Advocates:** Pulkit…

## Timeline

- **2019-09-27 — CIRP Admission & IRP…**: The main Company Petition was admitted, and Dr Tarun Goel was appointed as the Interim…
- **2019-10-30 — First CoC M…**: The first meeting of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 54 — Dissolution of corporate debtor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-54)

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