Tast Healthy Foods Liquidation Application Withdrawn by CoC

Authority: National Company Law Tribunal, Indore Bench, Court No. 1

Order Date: 22/06/2026

Case Overview

The application was filed by Mr. Rahul Anand, the Resolution Professional of M/s Tast Healthy Foods India Pvt Ltd, under Section 33(2) read with Section 34 of the Insolvency and Bankruptcy Code, 2016 (IBC). It sought an order for the liquidation of the Corporate Debtor and the appointment of Mr. Rahul Anand (IBBI/IPA-003/IP-N00166/2018-2019/11955) as the Liquidator.

During the pendency of this liquidation application, the Adjudicating Authority noted the existence of Writ Petition No. 24122 of 2023 before the Hon'ble High Court of Madhya Pradesh, Bench at Gwalior. This writ petition concerned the leasehold rights of the Corporate Debtor for Plot Nos. FP-39 and FP-40, Industrial Area, Malanpur, District Bhind, Madhya Pradesh. Consequently, the Resolution Professional was directed to place clarifications and relevant documents on record.

Subsequently, vide an order dated 12.12.2025, the Resolution Professional was directed to place the issue of continuing the Corporate Insolvency Resolution Process (CIRP) before the Committee of Creditors (CoC) to obtain its decision on extending the CIRP period. In its 8th Meeting held on 09.01.2026, the CoC, with a 100% voting share, approved the extension and authorized the Resolution Professional to seek it. The NCLT then extended the CIRP period by 90 days vide its order dated 03.02.2026.

Following this extension, Form-G was published, and three Prospective Resolution Applicants (PRAs) expressed interest in the process. The CoC comprises a single financial creditor, Punjab National Bank (PNB). In its 11th CoC Meeting held on 16.05.2026, the CoC again passed a resolution with a 100% voting share. This resolution approved the withdrawal of the present liquidation application (IA(Liq)/4(MP)2025) and authorized the Resolution Professional to take all necessary steps for its withdrawal. An affidavit dated 09.06.2026 was filed to place this CoC decision on record.

Final Outcome

The NCLT Indore Bench, comprising Hon'ble Shri Brajendra Mani Tripathi (Member-Judicial) and Hon'ble Shri Man Mohan Gupta (Member-Technical), dismissed the application IA(Liq)/4(MP)2025 as withdrawn. The dismissal is based on the conscious decision of the CoC, which holds 100% of the voting share, to withdraw the application. Liberty has been granted to file a fresh application if required.

Topics: Insolvency, Banking, NCLT