# In the matter of Aberdeen Foods Private Limited

> NCLT judgment dated 2024-10-03. Citation: TCN-2024-NCLT-00495. The document pertains to an Interlocutory Application filed for the liquidation of Aberdeen…

- **Court:** NCLT
- **Order date:** 3 Oct 2024
- **Citation:** TCN-2024-NCLT-00495
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/aberdeen-foods-private-limited-47e3ec73

## Summary

### Background

The document pertains to an Interlocutory Application filed for the liquidation of Aberdeen Foods Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following a Company Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016. The applicant was appointed as the Interim Resolution Professional (IRP). Public announcement was made to invite claims from creditors. The Committee of Creditors (CoC) was formed, consisting of operational creditors. Despite extending the deadline, no resolution plan was received. The CoC decided to liquidate the Corporate Applicant.

## Facts

The Corporate Insolvency Resolution Process (CIRP) for Aberdeen Foods Private Limited was initiated following a Company Petition under Section 10 of the Insolvency and Bankruptcy Code, 2016. The applicant was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 2024-02-17 to invite claims from creditors. The Committee of Creditors (CoC) was formed, consisting of operational creditors, as no claims were received from financial creditors. The deadline for submitting a resolution plan was extended to 2024-07-27, but no plans were received. The Corporate Applicant has no employees, fixed assets, or business activities. The CoC decided on 2024-07-31 to liquidate the Corporate Applicant, with the resolution passed by an 82% majority. The

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## Issues and analysis

### Issue 1: Whether the Interlocutory Application seeking liquidation of the Corporate Applicant should be …

**Ratio:** The legal principle applied is that if no resolution plan is received within the CIRP

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**Reasoning:** The court reasoned that the CIRP timelines had expired, and there was no prospect of

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**Interpretation:** This interprets the IBC to mean that liquidation is a valid outcome when

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**Application:** Given the absence of a resolution plan and the CoC's decision, the court

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## Parties

- **Judges:** Prabhat…; V.G. B…
- **Respondents:** Aberdeen Foods…

## Timeline

- **2024-02-09 — CIRP Init…**: Corporate Insolvency Resolution Process…
- **2024-02-17 — Public Annou…**: Public announcement made in newspapers…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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