# In the matter of Vibha Agro Tech Limited

> NCLT judgment dated 2025-02-21. Citation: TCN-2025-NCLT-00453. The case involves applications filed by several applicants (primarily farmers and seed…

- **Court:** NCLT
- **Order date:** 21 Feb 2025
- **Citation:** TCN-2025-NCLT-00453
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/vibha-agro-tech-limited-0cba3e68

## Summary

### Background

The case involves applications filed by several applicants (primarily farmers and seed organizers) against the Corporate Debtor, M/s. Vibha Agro Tech Limited, and its Resolution Professional (RP). The applicants claimed that the Interim Resolution Professional (IRP) failed to issue a proper public announcement regarding the Corporate Insolvency Resolution Process (CIRP) in accordance with Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of The National Company Law Tribunal Rules, 2016. The applicants alleged that the IRP did not publish the announcement in all locations where the Corporate Debtor conducted its material business, particularly in states where the farmers and organizers were located, leading to improper collation of

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## Facts

The Corporate Debtor, M/s. Vibha Agro Tech Limited, is undergoing Corporate Insolvency Resolution Process (CIRP). The applicants, including All India Kisan Sabha and several seed organizers, filed applications alleging that the Interim Resolution Professional (IRP) failed to issue a proper public announcement regarding the CIRP as required by Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of The National Company Law Tribunal Rules, 2016. The applicants claimed that the IRP did not publish the announcement in all locations where the Corporate Debtor conducted its material business, particularly in states like Gujarat, Maharashtra, Karnataka, Andhra Pradesh, Telangana, and Tamil Nadu, where the farmers and seed organizers were located.

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## Issues and analysis

### Issue 1: Whether the Applicant No.1 and other Applicants No. 2 to 8, have locus standi to bring the present …

**Ratio:** The legal principle revolves around whether the applicants have a direct creditor-debtor

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**Reasoning:** The Tribunal found that Applicant No.1 (All India Kisan Sabha) did not have a direct

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**Interpretation:** The interpretation focuses on the contractual relationship between the

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**Application:** The Tribunal applied the principle by distinguishing between Applicant No.1,

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. CHARAN…
- **Appellants:** All India Kisan…
- **Respondents:** M/s. Vibha Agro…
- **Advocates:** DV Seetharam…; A. Kar…; +2 more

## Timeline

- **2018-01-01 — C.P. (IB) NO.…**: The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Vibha Agro…
- **2023-05-06 — Tribunal…**: The Corporate Debtor was put into 'Corporate Insolvency Resolution Process' (CIRP) by an…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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