# In the matter of Royal Hygiene Care Private Limited MA 12-2019 In C.P.(IB)-162(MB)-2018

> NCLT judgment dated 2019-01-21. Citation: TCN-2019-NCLT-05214. The case pertains to MA 12/2019 in C.P.(IB)-162(MB)/2018 before the National Company Law…

- **Court:** NCLT
- **Order date:** 21 Jan 2019
- **Citation:** TCN-2019-NCLT-05214
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/royal-hygiene-care-private-limited-ma-12-2019-in-cpib-162mb-2018-08848f6d

## Summary

### Background

The case pertains to MA 12/2019 in C.P.(IB)-162(MB)/2018 before the National Company Law Tribunal (NCLT), Mumbai Bench. The Resolution Professional (RP) filed an application seeking initiation of liquidation for Royal Hygiene Care Private Limited. The Corporate Debtor was admitted into CIRP on 16.04.2018. An Interim Resolution Professional (IRP), Ms. Dipti Mehta, was initially appointed, followed by Mr. Adesh Kumar Gupta as the RP. The Committee of Creditors (CoC) was formed, and several meetings were held to discuss the resolution process, including the appointment of valuers and the extension of the CIRP period. Public announcements were made to invite claims from creditors and expressions of interest (EoI) for resolution plans.

## Facts

Royal Hygiene Care Private Limited was undergoing Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated following a petition under Section 10 of the Insolvency and Bankruptcy Code, 2016, which was admitted on 16.04.2018. Ms. Dipti Mehta was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Adesh Kumar Gupta. The Committee of Creditors (CoC) was formed, comprising The Federal Bank Ltd., Bank of India, and India SME Asset Reconstruction Co. Ltd. Several CoC meetings were held to discuss the resolution process. Two valuers were appointed to determine the value of the assets. Public announcements were made to invite claims from creditors and expressions of interest (EoI) for resolution plans. However, no resolution

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Royal Hygiene Care Private Limited, should be liquidated under …

**Ratio:** Section 33(1) & (2) of the Insolvency and Bankruptcy Code, 2016, allows for the

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**Reasoning:** The CoC, with 87% voting share, approved the liquidation due to the absence of a viable

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**Interpretation:** Section 33(1) & (2) provides a mechanism for liquidation when resolution

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**Application:** In this case, the CoC's decision, supported by the absence of a resolution plan

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## Parties

- **Judges:** M.K. Sh…
- **Respondents:** Royal Hygiene…
- **Advocates:** Durga S.…; Vivek S.…

## Timeline

- **2018-04-16 — CIRP Admi…**: Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016 was admitted,…
- **2018-04-30 — Public Annou…**: IRP issued public announcement u/s 15 of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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