# In the matter of POMEGRANATE COATERS PRIVATE LIMITED

> NCLT judgment dated 2025-06-30. Citation: TCN-2025-NCLT-00860. An application was filed by Mr. Yatin Jindal to initiate Corporate Insolvency Resolution…

- **Court:** NCLT
- **Order date:** 30 Jun 2025
- **Citation:** TCN-2025-NCLT-00860
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/pomegranate-coaters-private-limited-e7f5ec2b

## Summary

### Background

An application was filed by Mr. Yatin Jindal to initiate Corporate Insolvency Resolution Process (CIRP) against Pomergranate Coaters Private Limited. The Adjudicating Authority admitted the application and declared a moratorium and appointed Mr. Vinay Kumar Singhal as an Interim Resolution Professional. Subsequently, Mr. Vinay Kumar Singhal was confirmed as the Resolution Professional by the CoC.

## Facts

Mr. Yatin Jindal filed an application to initiate CIRP against Pomergranate Coaters Private Limited.

The Adjudicating Authority admitted the application and declared a moratorium and appointed Mr. Vinay Kumar Singhal as an Interim Resolution Professional.

Mr. Vinay Kumar Singhal was confirmed as the Resolution Professional by the CoC.

The Adjudicating Authority allowed the Liquidation application filed by Mr. Devendra Umrao.

The 5th CoC Meeting resolved to appoint Mr. Vivek Bansal as the liquidator.

Bank of Baroda filed an application to substitute the name of the Insolvency Professional appointed by the Adjudicating Authority to act as a Liquidator and appoint Mr. Vivek Bansal.

## Issues and analysis

### Issue 1: Whether the application filed by Bank of Baroda to substitute the name of the Insolvency …

**Ratio:** Regulation 31A(11) of the Insolvency and Bankruptcy Board of India (Liquidation Process)

…

**Reasoning:** The Applicant, being the sole financial creditor, endeavored to make a prayer thereby to

…

**Interpretation:** The Adjudicating Authority interpreted the relevant regulations and the facts

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**Application:** The Adjudicating Authority applied the relevant regulations to the facts of the

…

## Parties

- **Judges:** BACHU VENKAT…; Sanjeev R…
- **Appellants:** Yatin J…; Bank of B…
- **Respondents:** Pomergranate…
- **Other parties:** Vivek B…; Vinay Kumar…; +1 more
- **Advocates:** Abhindra Maheshwar…

## Timeline

- **2023-09-15 — Admission…**: Adjudicating Authority admitted the application and declared a moratorium and appointed…
- **2025-05-22 — Liquidation…**: Adjudicating Authority allowed the Liquidation…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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