# In the matter of SIDDHARTH NATURAL FOOD RESOURCES PRIVATE LIMITED

> NCLT judgment dated 2025-05-27. Citation: TCN-2025-NCLT-00956. The case involves an application (IA 5157/2024) filed by the Stakeholder Consultation Committee…

- **Court:** NCLT
- **Order date:** 27 May 2025
- **Citation:** TCN-2025-NCLT-00956
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/siddharth-natural-food-resources-private-limited-b714a4dd

## Summary

### Background

The case involves an application (IA 5157/2024) filed by the Stakeholder Consultation Committee of Siddharth Natural Food Resources Limited for the replacement of the liquidator.

## Facts

IA 5157/2024 was filed by the Stakeholder Consultation Committee of Siddharth Natural Food Resources Limited.

The application seeks the replacement of the liquidator.

The learned counsel for the current liquidator has no objection to the change.

Efficax Resolution Professionals Private Limited has provided written consent to act as the new liquidator, dated 19.07.2024.

Efficax Resolution Professionals Private Limited's AFA is valid up to 31.12.2025.

M/s Eefficax Resolution Professional Private Limited is appointed as the new liquidator.

## Issues and analysis

### Issue 1: Whether the replacement of the liquidator should be allowed based on the Stakeholder Consultation …

**Ratio:** The court has the discretion to allow the replacement of a liquidator when there is no

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**Reasoning:** The court considered the no objection from the current liquidator's counsel and the

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**Interpretation:** The absence of objection from the current liquidator simplifies the process of

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**Application:** The court applied its discretion to allow the replacement, considering the

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## Parties

- **Judges:** Sushil Mahadeorao…; Charanjeet Singh…
- **Appellants:** India SME Asset…
- **Respondents:** Siddharth Natural…
- **Other parties:** Efficax Resolution…; Stakeholder…
- **Advocates:** Anjali…; Manish…

## Timeline

- **2025-05-27 — Order Del…**: Order delivered on the…
- **2024-07-19 — Written C…**: Written consent from Efficax Resolution Professionals Private Limited (Corporate IP) as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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