# In the matter of COROMANDEL AGRICO PRIVATE LIMITED

> NCLT judgment dated 2025-06-05. Citation: TCN-2025-NCLT-00012. The case pertains to an application filed under Section 33 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 5 Jun 2025
- **Citation:** TCN-2025-NCLT-00012
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/coromandel-agrico-private-limited-be9b8e48

## Summary

### Background

The case pertains to an application filed under Section 33 of the Insolvency and Bankruptcy Code, 2016, for the liquidation of the Corporate Debtor, M/s Coromandel Agrico Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by the Operational Creditor, M/s Arysta Life Science India Limited, which was admitted by the Adjudicating Authority on 19.04.2022. Mr. Sushil Kumar Singh was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement of the CIRP and constituted the Committee of Creditors (CoC). The IRP was later confirmed as the Resolution Professional (RP) with 100% votes in the second CoC meeting held on 30.05.2022.

## Facts

M/s Coromandel Agrico Private Limited underwent Corporate Insolvency Resolution Process (CIRP) following a petition by M/s Arysta Life Science India Limited. Sushil Kumar Singhal was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) was formed, and the RP invited resolution plans. Several entities expressed interest, but objections were raised against Mr. Anand Pradeep Kumar due to his status as a wilful defaulter. The RP received two resolution plans, one from Shiva Traders and another from Mr. Anand Pradeep Kumar. The CoC extended the CIRP period and the deadline for submitting resolution plans. Ultimately, the CoC rejected both resolution plans due to insufficient voting support and resolved to liquidate the Corporate Debtor. The RP was

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## Issues and analysis

### Issue 1: Whether the liquidation of the Corporate Debtor, M/s Coromandel Agrico Private Limited, should be …

**Ratio:** Section 33 of the Insolvency and Bankruptcy Code, 2016, allows for the liquidation of a

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**Reasoning:** The CoC, in its tenth meeting held on 29.11.2022, rejected both resolution plans due to

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**Interpretation:** Section 33 provides the legal basis for initiating liquidation when resolution

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**Application:** Since the CoC voted to liquidate the Corporate Debtor, and no resolution plan

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## Parties

- **Judges:** Praveen…; Ashish…
- **Appellants:** SUSHIL KUMAR…
- **Respondents:** M/s Coromandel…

## Timeline

- **2022-04-19 — Admission of…**: Adjudicating Authority admitted the Petition under section 9 of the Code, filed by the…
- **2022-04-19 — Public Announcement of…**: The IRP made public announcement of CIRP of the Corporate Debtor in pursuance to the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33 — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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