# In the matter of UNIQUE SUGARS LIMITED

> Read the full IBC case summary for In the matter of UNIQUE SUGARS LIMITED. NCLT judgment dated 2025-07-09. Citation: TCN-2025-NCLT-00811.

- **Court:** NCLT
- **Order date:** 9 Jul 2025
- **Citation:** TCN-2025-NCLT-00811
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/unique-sugars-limited-b4975007

## Summary

### Background

This Interlocutory Application was filed by the Resolution Professional seeking an order for the initiation of liquidation of the Corporate Debtor, Unique Sugars Limited, and the appointment of a liquidator, following the rejection of a resolution plan by the Adjudicating Authority.

## Facts

Mr. Kailash Shah, the Resolution Professional (RP) of Unique Sugars Limited, filed an Interlocutory Application (IA) on November 23, 2023. The IA was filed under Section 33 read with Section 60(5) of the Insolvency and Bankruptcy Code, 2016, and Rule 11 of the NCLT Rules, 2016. The RP sought an order for the initiation of liquidation of Unique Sugars Limited, the corporate debtor, and the appointment of Mr. Pawan Kumar Ramdhan Agarwal as the liquidator.

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## Issues and analysis

### Issue 1: Whether the corporate debtor, Unique Sugars Limited, should be ordered for liquidation under…

**Ratio:** When a resolution plan is rejected for non-compliance with the requirements of the Code,…

**Reasoning:** The Tribunal noted that the previous resolution plan was rejected due to non-compliance…

**Interpretation:** Section 33(1)(b) of the Code mandates liquidation when a resolution plan is…

**Application:** Given the rejection of the resolution plan and the CoC's approval for…

## Parties

- **Judges:** ASHISH…; SANJIV…
- **Advocates:** For Applicant:…

## Timeline

- **February 28, 2019 — CIRP Admi…**: Company Petition CP(IB) No.128/2018 against the Corporate Debtor was admitted, initiating…
- **March 8, 2019 — Public Announcement by…**: IRP issued a public announcement in…

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