# In the matter of Arambagh Hatcheries Ltd. C.P. (IB)-360(KB)2021

> NCLT judgment dated 2022-05-25. Citation: TCN-2022-NCLT-02621. The case pertains to CP(IB)/360(KB)2021 before the National Company Law Tribunal, Kolkata…

- **Court:** NCLT
- **Order date:** 25 May 2022
- **Citation:** TCN-2022-NCLT-02621
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/arambagh-hatcheries-ltd-cp-ib-360kb2021-15e70026

## Summary

### Background

The case pertains to CP(IB)/360(KB)2021 before the National Company Law Tribunal, Kolkata Bench. An order was previously passed on 2022-05-13 in CP(IB)/1536(KB)2019, admitting the Corporate Debtor into the Corporate Insolvency Resolution Process (CIRP).

## Facts

JM Financial Asset Reconstruction Company Limited filed a case against Arambagh Hatcheries Ltd. The case, CP(IB)/360(KB)2021, was heard by the National Company Law Tribunal, Kolkata Bench. An earlier order dated 2022-05-13, passed in CP(IB)/1536(KB)2019, had already admitted Arambagh Hatcheries Ltd. into CIRP. The Financial Creditor in CP(IB)/360(KB)2021 was given the opportunity to file its claim before the IRP appointed in CP(IB)/1536(KB)2019. The court also considered the possibility of a settlement between the parties, allowing for the revival of CP(IB)/360(KB)2021 if a settlement was reached. Ultimately, CP(IB)/360(KB)2021 was disposed of.

## Issues and analysis

### Issue 1: Whether CP(IB)/360(KB)2021 can be continued given that the Corporate Debtor has already been …

**Ratio:** When a corporate debtor is already undergoing CIRP based on a prior order, a subsequent

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**Reasoning:** The court reasoned that since the Corporate Debtor had already been admitted into CIRP

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**Interpretation:** The interpretation is that once a CIRP has been initiated and admitted, any

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**Application:** In this case, the court applied the ratio by disposing of CP(IB)/360(KB)2021

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## Parties

- **Judges:** RohitKa…; Harish Chander…
- **Appellants:** JM FINANCIAL…
- **Respondents:** ARAMBAGH HATCHERIE…

## Timeline

- **2022-05-25 — Hearing…**: Attendance-cum-order…
- **2022-05-13 — Order Date in…**: Order passed in CP(IB)/1536(KB)2019…

## 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)

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