# In the matter of Foodco Delicacies India Private Limited IA (IB) No. 455-KOB-2022 in CP (IB) No. 08-KOB-2021

> NCLT judgment dated 2023-03-31. Citation: TCN-2023-NCLT-03920. The case involves an application filed under Section 30(6) read with Section 31(1) of the…

- **Court:** NCLT
- **Order date:** 31 Mar 2023
- **Citation:** TCN-2023-NCLT-03920
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/foodco-delicacies-india-private-limited-ia-ib-no-455-kob-2022-in-cp-ib-no-08-kob-a2d7e4a4

## Summary

### Background

The case involves an application filed under Section 30(6) read with Section 31(1) of the Insolvency and Bankruptcy Code, 2016, for the approval of a Resolution Plan in respect of Foodco Delicacies India Private Limited, the Corporate Debtor. The underlying Company Petition C.P. (IB) No. 08/KOB/2021, filed by ‘The Federal Bank Limited' against the Corporate Debtor under Section 7 of the Code, was admitted by the Tribunal on 24.03.2022, initiating the Corporate Insolvency Resolution Process (CIRP). CS Ramachandran Thekkumkat Madathil was appointed as the Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP). The Committee of Creditors (CoC), comprising The Federal Bank Limited with 100% voting share, approved the resolution plan with

…

## Facts

The Federal Bank Limited initiated Corporate Insolvency Resolution Process (CIRP) against Foodco Delicacies India Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 24.03.2022. CS Ramachandran Thekkumkat Madathil was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). A public announcement was made on 01.04.2022, inviting claims from creditors. The Committee of Creditors (CoC) was constituted, comprising The Federal Bank Limited with 100% voting share. Ten CoC meetings were held during the CIRP. An invitation for Expression of Interest (EoI) was published on 06.06.2022, with a last date of receipt of resolution plans on 31.07.2022. The CIRP timeline was

…

## Issues and analysis

### Issue 1: Whether the Resolution Applicant meets the criteria approved by the CoC having regard to the …

**Ratio:** Section 25(2)(h) of the IBC, 2016 requires the resolution professional to undertake such

…

**Reasoning:** The applicant has submitted the details of various compliances as envisaged by the Code

…

**Interpretation:** This provision ensures that the CoC has sufficient information to evaluate the

…

**Application:** The Resolution Applicant has demonstrated that it meets the criteria approved

…

## Parties

- **Judges:** P. Moha…; Satya Ranjan…
- **Appellants:** CS.Ramachandran…
- **Respondents:** Foodco Delicacies…
- **Advocates:** Sankar. P.…

## Timeline

- **2021-01-01 — CP (IB) No. 08…**: Underlying Company Petition filed by ‘The Federal Bank Limited' against the Corporate…
- **2022-03-24 — Admission of Company…**: Tribunal admitted the Company Petition and initiated Corporate Insolvency Resolution…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 30(6) — Submission of resolution plan](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-30)

---

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/foodco-delicacies-india-private-limited-ia-ib-no-455-kob-2022-in-cp-ib-no-08-kob-a2d7e4a4