# In the matter of Xalta Foods and Beverages Pvt. Ltd. (IB)-702-ND-2018

> NCLT judgment dated 2019-06-14. Citation: TCN-2019-NCLT-02916. The case involves Super Print Services V/s. M/s. Xalta Food and Beverages Pvt.Ltd. before the…

- **Court:** NCLT
- **Order date:** 14 Jun 2019
- **Citation:** TCN-2019-NCLT-02916
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/xalta-foods-and-beverages-pvt-ltd-ib-702-nd-2018-146d7914

## Summary

### Background

The case involves Super Print Services V/s. M/s. Xalta Food and Beverages Pvt.Ltd. before the National Company Law Tribunal (NCLT), New Delhi Bench. An application under Section 33 of the IBC has been filed because no resolution was possible within 270 days. CA 731/2019 was filed, seeking directions to proceed with liquidation.

## Facts

The case involves Super Print Services V/s. M/s. Xalta Food and Beverages Pvt.Ltd. before the NCLT. The key facts are:
1. No resolution plan was received within the 270-day period.
2. An application under Section 33 of the IBC was filed.
3. CA 731/2019 was filed, seeking directions for liquidation.
4. Two financial creditors, Reliance Capital Ltd. and Tamilnad Mercantile Bank, undertook to pay the proportionate CIR cost.
5. Other financial claimants did not appear or contribute to the CIR process.
6. The RP proposed his own name as the liquidator.
7. The COC members participated in the resolution process but did not contribute to the cost.

## Issues and analysis

### Issue 1: Whether the application for liquidation should be allowed given the failure of the resolution …

**Ratio:** Section 33 of the IBC allows for liquidation when no resolution plan is approved or the

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**Reasoning:** The court reasoned that since no resolution plan was received and the 270-day period had

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**Interpretation:** Section 33 of the IBC is interpreted to mean that if a resolution plan is not

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**Application:** The court applied this interpretation to the facts of the case, noting that no

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## Parties

- **Judges:** V.K. SUB…; Ina Mal…
- **Appellants:** Super Print…
- **Respondents:** Xalta Food &…; Xalta Food and…
- **Advocates:** Kshitij S…; Shivam N…; +3 more

## Timeline

- **2019-06-14 — Hearing…**: Hearing before the New Delhi Bench of…
- **2019-07-04 — Next Hearin…**: The case is scheduled to…

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This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/xalta-foods-and-beverages-pvt-ltd-ib-702-nd-2018-146d7914