# In the matter of BIRBHUM CHEMICALS AND FERTILISERS LTD.

> NCLT judgment dated 2026-02-27. Citation: TCN-2026-NCLT-00187. The Corporate Debtor (Birbhum Chemical and Fertilisers Ltd.) was admitted into Corporate…

- **Court:** NCLT
- **Order date:** 27 Feb 2026
- **Citation:** TCN-2026-NCLT-00187
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/birbhum-chemicals-and-fertilisers-ltd-f07e2ace

## Summary

### Background

The Corporate Debtor (Birbhum Chemical and Fertilisers Ltd.) was admitted into Corporate Insolvency Resolution Process (CIRP) vide an order of the Tribunal dated 08th January, 2024. Mr. Avishek Gupta was appointed as the Interim Resolution Professional and later confirmed as the RP. The CoC was initially constituted on 22nd January, 2024, and later reconstituted after HDFC Bank submitted a belated claim.

## Facts

The Corporate Debtor was admitted into CIRP on 08th January, 2024.

Mr. Avishek Gupta was appointed as the Interim Resolution Professional and later confirmed as the RP.

The CoC was reconstituted after HDFC Bank submitted a belated claim.

The RP filed an application under Section 19(2) of the Code seeking directions against the Suspended Board of Directors (SBOD) for non-cooperation.

Three Expressions of Interest (EoIs) were received from prospective Resolution Applicants.

The Resolution Plan submitted by Real Value Infotech Projects Private Limited was rejected by the CoC with 77.46% voting share against it.

The CIRP period of 180 days expired on 06.07.2024.

Canara Bank filed an application seeking the appointment of Mr. Anup Kumar Singh as the liquidator.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be liquidated under Section 33(2) of the Insolvency and …

**Ratio:** Section 33(1) of the Insolvency and Bankruptcy Code, 2016, mandates liquidation if no

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**Reasoning:** The resolution plan filed by the Resolution Applicant was rejected by the CoC, and the

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**Interpretation:** The Tribunal interpreted Section 33(1) to mean that liquidation is the

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**Application:** The Tribunal applied Section 33(2) of the Code and ordered the liquidation of

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## Parties

- **Judges:** Labh S…; Rekha Kantilal…
- **Appellants:** Canara…; Avishek…
- **Respondents:** Birbhum Chemical…
- **Other parties:** Sanjay Kumar…; Anup Kumar…; +1 more
- **Advocates:** A. R…; Neelima Cha…; +3 more

## Timeline

- **2024-01-08 — CIRP Init…**: Corporate Debtor admitted into Corporate…
- **2024-01-22 — CoC Consti…**: Committee of Creditors…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(2) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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