# In the matter of S. K. Masala and Foods Limited IA No. 727-(AHM)-2021 in C.P. (I.B.) No. 468 (AHM)-2018

> Read the full IBC case summary for In the matter of S. K. Masala and Foods Limited IA No. 727-(AHM)-2021 in C.P. (I.B.) No. 468 (AHM)-2018. NCLT judgment…

- **Court:** NCLT
- **Order date:** 8 Jun 2023
- **Citation:** TCN-2023-NCLT-05480
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/s-k-masala-and-foods-limited-ia-no-727-ahm-2021-in-cp-ib-no-468-ahm-2018-d23ff45d

## Summary

### Background

The application was filed by the Liquidator for the dissolution of the Corporate Debtor under section 54 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 45(3)(b) of the IBBI (Liquidation Process) Regulations, 2016.

## Facts

An application was filed by the Operational Creditor, C. Girdharlal Gheewala, under section 9 of the IB Code, 2016, for the initiation of Corporate Insolvency Resolution Process (CIRP) against M/s. S.K. Masala & Foods Limited. The application was admitted on September 17, 2019, and Mr. Bhupendra Singh Narayan Singh Rajput was appointed as the Interim Resolution Professional (IRP).

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M/s. S.K. Masala & Foods Ltd., should be dissolved under section 54…

**Ratio:** The NCLT, exercising powers under section 54(2) of the I.B. Code, ordered the dissolution…

**Reasoning:** The Stakeholders Consultation Committee, in its final meeting, resolved for the…

**Interpretation:** The court interpreted section 54 of the IB Code to allow for the dissolution of…

**Application:** Given that the liquidator had completed all tasks, including public…

## Parties

- **Judges:** Ajai Das Me…; SHAMMI…
- **Advocates:** Arjun Pad…; Pankti…; +1 more

## Timeline

- **September 17, 2019 — CIRP Admi…**: Application under section 9 of the IB Code for CIRP of M/s. S.K. Masala & Foods Limited…
- **October 15, 2019 — CoC Meet…**: First meeting of the Committee of Creditors…

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