# M/s Nicia Food And Drinks Private Limited vs. N/A

> NCLT judgment dated 2026-07-10. Citation: TCN-2026-NCLT-00607. M/s Nicia Food And Drinks Private Limited, the Corporate Applicant and Corporate Debtor, filed…

- **Court:** NCLT
- **Order date:** 10 Jul 2026
- **Citation:** TCN-2026-NCLT-00607
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/ms-nicia-food-and-drinks-private-limited-xe1pj

## Summary

### Background

M/s Nicia Food And Drinks Private Limited, the Corporate Applicant and Corporate Debtor, filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against itself. The company reported a financial debt of Rs 4,31,68,766/- and an operational debt of Rs 1,99,876.57/-, acknowledging its default in payment. The Corporate Debtor, engaged in the food and beverage industry, has been facing severe financial difficulties and is unable to discharge its liabilities to both financial and operational creditors, leading to a financial collapse.

## Facts

M/s Nicia Food And Drinks Private Limited (Corporate Applicant) filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016, to initiate CIRP against itself.

The Corporate Applicant is also the Corporate Debtor.

The Corporate Applicant committed default in paying a financial debt of Rs 4,31,68,766/- and an operational debt of Rs 1,99,876.57/-.

The Corporate Debtor is engaged in the business of manufacturing, processing, packaging, importing, exporting, trading, and distributing a wide range of food and beverage products.

Over the past one and a half years, the Corporate Debtor's business faced severe difficulties due to its failure to honor commitments to financial and operational creditors.

…

## Issues and analysis

### Issue 1: Whether M/s Nicia Food And Drinks Private Limited …

**Ratio:** The NCLT found that debt was due and there was a default, and the Corporate Applicant was

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**Reasoning:** The Corporate Applicant admitted to outstanding financial debt of Rs 4,31,68,766/- and

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**Interpretation:** A 'default' under the IBC occurs when a debt, which has become due and payable,

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**Application:** Based on the Corporate Applicant's explicit statements regarding its

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; ATUL CHAT…
- **Respondents:** M/s Nicia Food…
- **Other parties:** Deutsche B…; Shailendra…
- **Advocates:** Saurabh Up…; Anuj…; +1 more

## Timeline

- **2023-12-26 — Extra Ordinary General…**: An Extra Ordinary General Meeting was held where the filing of the application under…
- **2025-12-29 — Board Reso…**: The Corporate Applicant's Board passed a resolution to file an application under Section…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 10 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-10)

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