# In the matter of Aditi Health Oils Private Limited

> NCLT judgment dated 2024-04-02. Citation: TCN-2024-NCLT-01872. The document pertains to a case before the National Company Law Tribunal (NCLT), Kolkata Bench,…

- **Court:** NCLT
- **Order date:** 2 Apr 2024
- **Citation:** TCN-2024-NCLT-01872
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/aditi-health-oils-private-limited-5606cef2

## Summary

### Background

The document pertains to a case before the National Company Law Tribunal (NCLT), Kolkata Bench, involving JM Financial Asset Reconstruction Company Limited versus Aditi Health Oils Private Limited. The case is under Section 7 of the Insolvency and Bankruptcy Code (IBC). The document includes a corrigendum order and discusses several IAs related to the liquidation process of Aditi Health Oils Private Limited.

## Facts

JM Financial Asset Reconstruction Company Limited initiated proceedings against Aditi Health Oils Private Limited under Section 7 of the IBC. Several IAs were filed concerning the liquidation process. The liquidator filed applications to place progress reports on record. The stakeholders committee agreed to allow the present liquidator to continue as their authorized representative. The liquidation period was extended until January 2024, and all assets of the Corporate Debtor were sold and money distributed. An application was filed under Section 54 of the I&B Code to seek closure of the liquidation process. The liquidator was in possession of certain plots of land, and the applicant claimed ownership of a portion of it. The Corporate Debtor is dissolved with

…

## Issues and analysis

### Issue 1: Whether the applications filed by the Liquidator to place on record the 12th and 13th Progress …

**Ratio:** The court has the power to take documents on

…

**Reasoning:** The court reasoned that the progress reports provide updates on the liquidation process

…

**Interpretation:** The interpretation is that the court can accept documents that are relevant to

…

**Application:** The court applied this principle by allowing the applications and taking the

…

## Parties

- **Judges:** BIDISHA BA…; D. Ar…
- **Appellants:** JM Financial…
- **Respondents:** ADITI HEALTH OILS…

## Timeline

- **2024-04-02 — Hearing…**: Attendance-cum-order sheet of the…
- **2024-03-05 — Order Da…**: Order dated 05th March,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

---

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-division-bench-court-i-chenn/aditi-health-oils-private-limited-5606cef2