Partly allowed

In the matter of Best Foods Limited Ca No. 572-2018, Ia Nos. 899-2020, 78-2021, 608-2021 & 616-2021 In Cp (Ib) No. 117-Chd-CHD-2017

NCLT1 Dec 2021

Case brief

AI extract

What is this about?

The NCLT Chandigarh Bench allowed IA No. 616/2021, excluding the lockdown period (19.04.2021 to 07.06.2021) from the liquidation process based on relevant Regulations and Supreme Court observations. It disposed of IA Nos. 899/2020 and 78/2021 as infructuous and issued notices for IA No. 608/2021.

What did the court decide?

Period from 19.04.2021 to 07.06.2021 excluded from liquidation process; IA Nos. 899/2020 and 78/2021 disposed of.

In the matter of Best Foods Limited Ca No. 572-2018, Ia… — Insolvency and Bankruptcy | NCLT (2021)

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Page 1 of 3

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THE NATIONAL COMPANY LAW TRIBUNAL CHANDIGARH BENCH, CHANDIGARH (through web-based video conferencing platform)

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Item No. 23 CA No. 572/2018, IA Nos. 899/2020, 78/2021, 608/2021 & 616/2021 In CP (IB) No. 117/Chd/CHD/2017 (Admitted Matter)

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Under Sections 60(5)(B), 66, 67, 68 and 69 read with Section 45, 47 and 49 and Section 25(2)(j) and 235A of the Insolvency and Bankruptcy Code, 2016 and Rule 11 of NCLT Rules, 2016

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In the matter of:-

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M/s Hajura Singh Bhim Singh

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…Operational Creditor

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Vs.

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M/s Best Foods Limited

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…Corporate Debtor

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Present through Video Conferencing:

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Mr. G.S. Sarin, Practising Company Secretary for applicantLiquidator in CA No. 572/2018 and for respondent-Liquidator in IA Nos. 899/2020 and 78/2021.

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Mr. Vishal Garg, Advocate for applicant in IA No. 899/2020. Mr. Piyush Bansal, Advocate for applicant in IA No. 78/2021. Mr. Vaibhav Sahni, Advocate for respondent Nos. 5 to 12 in CA No. 572/2018.

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Mr. Viren Sharma, Advocate for applicant in IA Nos. 608/2021 & 616/2021.

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IA Nos. 899/2020 & 78/2021

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It is stated by learned counsels for applicant in both the applications that their claims have been admitted by Liquidator, therefore,

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CA No. 572/2018, IA Nos. 899/2020, 78/2021, 608/2021 & 616/2021 In

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CP (IB) No. 117/Chd/CHD/2017 (Admitted Matter)

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Page 2 of 3

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present IA Nos. 899/2020 and 78/2021 are rendered infructuous and accordingly, same are disposed of.

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CA No. 572/2018

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A date is requested on behalf of learned counsel for respondents. List on 13.01.2022.

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IA No. 608/2021

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Heard. Issue notice of this application to the respondent(s) for 13.01.2022. The applicant shall collect the notices from the Registry and send the same by speed post as well as by e-mail, if available, immediately to the respondent(s) at their registered address attaching therewith copy of the application and the entire paper book and the copy of this order.

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In case, the service of speed post on the aforesaid respondent(s) is not effected, the applicant shall adopt the mode of substituted service and the notice of hearing be advertised in two daily newspapers (one English and one Hindi) having wide circulation in the area.

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The applicant shall file affidavit of service supported by postal receipt, tracking report, paper clippings and copy of e-mail within two weeks.

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Reply to be filed within two weeks after receipt of notice with a copy in advance to the counsel opposite. Rejoinder thereto, if any, be filed one week thereafter with a copy in advance to the counsel opposite.

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List on 13.01.2022.

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IA No. 616/2021

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The present application has been filed for excluding the period of restriction of the lockdown imposed w.e.f. 19.04.2021 to 07.06.2021 from the

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CA No. 572/2018, IA Nos. 899/2020, 78/2021, 608/2021 & 616/2021 In

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CP (IB) No. 117/Chd/CHD/2017 (Admitted Matter)

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Page 3 of 3

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liquidation process of corporate debtor. Heard. Keeping in view the facts and circumstances and grounds mentioned in the application and Regulation 47A of Liquidation Process Regulations, 2016 and in view of the judgment of the Hon’ble Supreme Court of India in Suo Motu Writ Petition (Civil) No(s). 3/2020 in Re: cognizance for extension of Limitation vide order dated 23.03.2020; and decision dated 30.03.2020 of the Hon’ble National Company Law Tribunal in Suo Moto-Company Appeal (AT) (Insolvency) No. 01 of 2020, as well as Regulation 40C to the Insolvency and Bankruptcy Code of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016; the said period w.e.f. 19.04.2021 to 07.06.2021 is excluded from the liquidation process of the corporate debtor. IA No. 616/2021 is allowed accordingly.

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Sd/Sd/(Subrata Kumar Dash) (Harnam Singh Thakur) Member (Technical) Member (Judicial)

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December 01, 2021 YP

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CA No. 572/2018, IA Nos. 899/2020, 78/2021, 608/2021 & 616/2021 In

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CP (IB) No. 117/Chd/CHD/2017 (Admitted Matter)

In the matter of Best Foods Limited Ca No. 572-2018, Ia Nos. 899-2020, 78-2021, 608-2021 & 616-2021 In Cp (Ib) No. 117-Chd-CHD-2017

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In the matter of Best Foods Limited Ca No. 572-2018, Ia Nos. 899-2020, 78-2021, 608-2021 & 616-2021 In Cp (Ib) No. 117-Chd-CHD-2017

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