# In the matter of Hybro Foods Private Limited

> NCLT judgment dated 2025-03-27. Citation: TCN-2025-NCLT-01031. The Resolution Professional of Hybro Foods Private Limited filed an application under Section…

- **Court:** NCLT
- **Order date:** 27 Mar 2025
- **Citation:** TCN-2025-NCLT-01031
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/hybro-foods-private-limited-69995983

## Summary

### Background

The Resolution Professional of Hybro Foods Private Limited filed an application under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor.

## Facts

The Corporate Debtor, Hybro Foods Private Limited, was engaged in the business of chicken processing and related products, but operations ceased on 31.12.2022.

The Applicant, Pankaj Sham Joshi, is the Resolution Professional of the Corporate Debtor.

The Financial Creditor initiated Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Code, and CIRP commenced on 03.03.2023.

The CoC, comprising Kotak Mahindra Bank Ltd. and Union Bank of India, resolved to appoint the IRP as a Resolution Professional.

The CoC resolved to initiate the liquidation process of the Corporate Debtor with 82.45% vote.

The Applicant received two Expressions of Interest, but no Resolution Plan was submitted by the last date.

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## Issues and analysis

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

**Ratio:** Section 33(1)(a) of the Code allows the Adjudicating Authority to pass an order requiring

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**Reasoning:** The CoC resolved to liquidate the Corporate Debtor as it was not operating as a going

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**Interpretation:** The Adjudicating Authority interpreted Section 33(1)(a) to allow for

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**Application:** The Adjudicating Authority applied Section 33(1)(a) and ordered the liquidation

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## Parties

- **Judges:** Sushil Mahadeorao…; Charanjeet Singh…
- **Appellants:** Pankaj Sham…; Kotak Mahindra…
- **Respondents:** M/s. Hybro Foods…
- **Other parties:** Union Bank of…; Roshen Ch…
- **Advocates:** Ayush Ko…; Ajay Des…

## Timeline

- **2023-03-03 — Commencement…**: Corporate Insolvency Resolution Process (‘CIRP') of the Corporate Debtor was commenced…
- **2023-03-06 — Public Annou…**: The IRP issued a Public…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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