# Shivkumar Suppliers vs. Madhur Nourishment Products LLP

> NCLT judgment dated 2026-09-23. Citation: TCN-2026-NCLT-01059. An application under Section 9 of the IBC was filed by M/s Shivkumar Suppliers against Madhur…

- **Court:** NCLT
- **Order date:** 23 Sept 2026
- **Citation:** TCN-2026-NCLT-01059
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/shivkumar-suppliers-vs-madhur-nourishment-products-llp-1jnoj

## Summary

### Background

An application under Section 9 of the IBC was filed by M/s Shivkumar Suppliers against Madhur Nourishment Products LLP, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) on 20.02.2020. Mr. Udaykumar Bhaskar Bhat was appointed as the Interim Resolution Professional (IRP), followed by Mrs. Akansha Rathi as the Resolution Professional (RP). As no resolution applicant could be identified, the Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor. The liquidation process commenced on 01.03.2023, with Mr. Prashant Jain initially appointed as the Liquidator.

## Facts

An application under Section 9 of the IBC was filed by M/s Shivkumar Suppliers against Madhur Nourishment Products LLP.

The Corporate Insolvency Resolution Process (CIRP) of Madhur Nourishment Products LLP was initiated on 20.02.2020.

Mr. Udaykumar Bhaskar Bhat was appointed as the Interim Resolution Professional (IRP).

Mrs. Akansha Rathi was appointed as the Resolution Professional (RP) in the 2nd meeting of the Committee of Creditors (CoC).

No prospective resolution applicant could be identified during the CIRP.

The CoC resolved to liquidate the Corporate Debtor.

The liquidation process of the Corporate Debtor was initiated on 01.03.2023.

Mr. Prashant Jain was appointed as the Liquidator.

…

## Issues and analysis

### Issue 1: Whether an order for the dissolution of the Corporate Debtor (Madhur Nourishment Products LLP) …

**Ratio:** The Adjudicating Authority shall order the dissolution of a corporate debtor under

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**Reasoning:** The Tribunal found that the Liquidator had realized all assets of Madhur Nourishment

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**Interpretation:** Section 54(1) places the onus on the liquidator to apply for dissolution once

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**Application:** The Applicant (Liquidator) fulfilled all conditions precedent for dissolution,

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## Parties

- **Judges:** SH. VINAY…; SH. CHARANJEET…
- **Appellants:** Shivkumar…; Prashant…
- **Respondents:** Madhur Nourishment…
- **Other parties:** Committee of…; Canara…; +5 more
- **Advocates:** Mily Gh…; Sophia Hu…

## Timeline

- **2020-02-20 — CIRP Init…**: An application under Section 9 of the Code filed by M/s Shivkumar Suppliers was admitted,…
- **2023-03-01 — Liquidation Process…**: The Tribunal initiated the liquidation process of the Corporate Debtor and appointed Mr.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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