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IN THE NATIONALC OMPANY LAW TRIBUNAL AHMEDABAD COQURT -2 ITEM No0.303 |A(Dis)/8(AHM)2024 CP(IB) 562 of 2019 Proceedings under Section 54(1) of IBC,2016 IN THE MATTER OF:

Atul Sheth Liquidator for M/S Captive Foods Private Limited ........ Applicant ........ Respondent Order deliveroend: 08/10/2026 Coram:

Mrs. Chitra Hankare, Hon’ble Member(J)

Dr. Velamur G Venkata Chalapathy, Hon’ble Member(T)

ORDER This case is fixed for pronouncement of order The order is pronounced in open court vide separate sheet DR. V. G. VENKATA CHALAPATHY CHITRA HANKARE MEMBER (TECHNICAL) MEMBER (JUDICIAL)

SJ/AD/AP

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NATIONAL COMPANY LAW TRIBUNAL AHMADABAD BENCH COURT-II (An application filed under Section 54(1) of the Insolvency and Bankruptcy Code, 2016) IN THE MATTER OF: Atul Sheth Liquidator M/s. Captivate Foods Pvt. Ltd.

Having office at: B-27, Saiyam Apartments, Near Nehru Nagar, Ambawadi, Ahmedabad-380015 ....Liquidator/Applicant Order Pronounced on: 08/10/2026 For the Applicant : Mr. Kudeep Adesara, Adv. For the Income Tax : Mr. Aman A Mir, Advocate CORAM:

MRS. CHITRA HANKARE HON’BLE MEMBER (JUDICIAL)

DR. V.G. VENKATA CHALAPATHY HON’BLE MEMBER (TECHNICAL)

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C.P. (L.B.) No. 562(AHM) /2019 JUDGMENT The Instant Application is filed by Mr. Atul Sheth, Liquidator of M/s. Captive Foods Private Limited the Corporate Debtor, under Section 54(1) of the Insolvency and Bankruptcy Code, 2016 (hereinafter refered to as “IB Code”) with a prayer to dissolve the Corporate debtor.

That the Corporate Debtor is a Private Limited Company incorporated under the Companies Act, 2013 on 17.09.2014 having CIN No. U15400GJ2014PTC080811 registered office at Survey No. 156/P, Plot No. 2, Village-Naranka, Rajkot, Gujarat-360110.

The Operational Creditor i.e. Givaudan(India) Private Limited bearing CP(IB) No. 562/9/NCLT/AHM/2019 filed an application under Section 9 of the IBC, 2016 and vide order dated 25.04.2022 the said petition was admitted and Mr. Atul Jashwantrai Sheth has appointed as Interim Resolution Professional (hereinafter referred to as IRP’).

It 1s submitted that as there is no chance of the revival of the Corporate Debtor, in the second meeting of CoC held on adl . gd|~ 2]Page

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29.09.2023, it was decided to go for dissolution of the Corporate Debtor with 100% .

It is submitted that vide order dated 13.01.2024 bearing Interlocutory' Applicatiorij No. 609 /2022 in CP (IB) No. 562/2019 liquidation process of the Corporate Debtor-M/s Captivate Foods Private Limited was initiated and Mr. Atul Jashwantrai Sheth appointed as the Liquidator.

That the Liquidator published Form-B on 06.02.2023 in newspaper calling for claims of stakeholders of Corporate Debtor in “Financial Express” in English & Gujarati edition, the last date of submission cf claim was 04.03.2023.

The Liquidator has conducted SCC meeting on 09.02.2023 and 29.09.2023. There are no assets of the Corporate Debtor , registered office of the Corporate Debtor was a rented premise. The Directors of the Corporate Debtor are absconding, the Applicant has also filed a Police compliant to the local police station on the basis of these facts in the second meeting of CoC it was decided with Bank of India being sole secured stakeholder to file this present application. It is also submitted —5d/~ e 3]Page that there were no assets of the Corporate Debtor, the entire CIRP and Liquidation Cost was borne by Bank of India being sole secured stakeholders and the amount as per Code 52 & 53 have been fully distributed.

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The Liquidatof openéd a bank account in the name of M/s. Captivate Foods Pvt Ltd (in Liquidation) bearing account no. 310320110001176 and also submitted proof of closure of the same bank account.

The Liquidator has submitted Form -H as per Regulation 45(3) of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations. As there are no assets of the Corporate Debtor, the Liquidator has filed the present application.

10. ROC has filed its reply

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