# In the matter of Young Mind Rest Restaurant Pvt. Ltd.  (IB)-967(ND)2019

> NCLT judgment dated 2019-11-22. Citation: TCN-2019-NCLT-00497. The case involves M/s. Shree Balaji Super Foods V/s. M/s. Young Mind Rest Restaurant Pvt. Ltd.…

- **Court:** NCLT
- **Order date:** 22 Nov 2019
- **Citation:** TCN-2019-NCLT-00497
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/young-mind-rest-restaurant-pvt-ltd-ib-967nd2019-6dfc8eda

## Summary

### Background

The case involves M/s. Shree Balaji Super Foods V/s. M/s. Young Mind Rest Restaurant Pvt. Ltd. The Operational Creditor appeared before the National Company Law Tribunal (NCLT), New Delhi Bench. The Operational Creditor submitted that the expenses of the Interim Resolution Professional (IRP) have been settled, which was confirmed by Mr. Sanjay Sahni, the IRP, who was present in court. However, the Operational Creditor's claim has not been accepted by the IRP.

## Facts

The case involves a dispute between M/s. Shree Balaji Super Foods (Operational Creditor) and M/s. Young Mind Rest Restaurant Pvt. Ltd. (Corporate Debtor). The Operational Creditor appeared before the NCLT, New Delhi Bench, stating that the IRP expenses were settled, which the IRP, Mr. Sanjay Sahni, confirmed. However, the IRP did not accept the Operational Creditor's claim. The Operational Creditor, being the only claimant, requested the termination of the CIRP due to the expenses involved. No COC had been constituted. The relevance of these facts lies in the court's decision to terminate the CIRP based on the Operational Creditor's request and the absence of a COC.

## Issues and analysis

### Issue 1: Whether the Corporate Insolvency Resolution Process (CIRP) should be terminated based on the …

**Ratio:** The legal principle applied is that the CIRP can be terminated if the Operational

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**Reasoning:** The court reasoned that since the Operational Creditor is the only claimant and wishes to

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**Interpretation:** This issue involves the interpretation of the Insolvency and Bankruptcy Code

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**Application:** In this specific case, the ratio and reasoning are applied to the fact that the

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## Parties

- **Judges:** Saroj Ra…; Ina Mal…
- **Respondents:** M/s. Young Mind…

## Timeline

- **2019-11-22 — Hearing…**: Attendance-cum-order sheet of the hearing before the New Delhi Bench of the National…

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