# In the matter of Ultra Foods and Feeds Pvt. Ld. T.C.P. No. 858-(MAH)-2017

> NCLT judgment dated 2017-08-14. Citation: TCN-2017-NCLT-00636. The case involves a petition, T.C.P. No. 858/(MAH)/2017, before the National Company Law…

- **Court:** NCLT
- **Order date:** 14 Aug 2017
- **Citation:** TCN-2017-NCLT-00636
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ultra-foods-and-feeds-pvt-ld-tcp-no-858-mah-2017-69356142

## Summary

### Background

The case involves a petition, T.C.P. No. 858/(MAH)/2017, before the National Company Law Tribunal (NCLT), Mumbai Bench. The petition was initially filed in the High Court and subsequently transferred to the NCLT. The petitioner, Kantilal Manilal & Co. Pvt. Ltd., sought to pursue an outstanding debt of Rs. 51,30,621 against the respondent, Ultra Foods and Feeds Pvt. Ltd. However, prior to this petition, an order had already been passed by the NCLT in C.P. No. 1081/2017 under Section 9 of the Insolvency and Bankruptcy Code, 2016, admitting a petition against the respondent. A moratorium had been commenced, and the matter was referred to the Insolvency Bankruptcy Board for appointment of an Interim Resolution Professional (IRP).

## Facts

Kantilal Manilal & Co. Pvt. Ltd. filed a petition (T.C.P. No. 858/(MAH)/2017) before the NCLT Mumbai Bench against Ultra Foods and Feeds Pvt. Ltd. seeking to recover an outstanding debt of Rs. 51,30,621. The petition was initially filed in the High Court and subsequently transferred to the NCLT. However, prior to this petition, the NCLT had already admitted a petition against Ultra Foods and Feeds Pvt. Ltd. (C.P. No. 1081/2017) under Section 9 of the Insolvency and Bankruptcy Code, 2016. This admission resulted in a moratorium and referral to the Insolvency Bankruptcy Board for appointment of an IRP. Given the existing insolvency proceedings, the court considered the viability of the current petition. The key fact is the prior admission of insolvency proceedings

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## Issues and analysis

### Issue 1: Whether the petition T.C.P. No. 858/(MAH)/2017 can survive given the prior admission of a petition …

**Ratio:** When an insolvency petition has already been admitted against a corporate debtor, and a

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**Reasoning:** The court reasoned that since an order had already been passed admitting a petition

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**Interpretation:** The interpretation of the Insolvency and Bankruptcy Code, 2016, emphasizes the

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**Application:** In this case, the court applied the principle that the prior admission of an

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## Parties

- **Judges:** M.K. Sh…; Bhaskara Pantula…
- **Appellants:** Kantilal Manilal…
- **Respondents:** Ultra Foods and…

## Timeline

- **2017-06-13 — Petition…**: Form No. 5 was filed on…
- **2017-07-19 — Order Passed…**: An order was passed by the NCLT in C.P. No. 1081/2017 under section 9 of the Insolvency…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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