The National Company Law Tribunal (NCLT), New Delhi Bench, has dismissed an application for the dissolution of Shakti Bhog Snacks Limited (the Corporate Debtor) under Section 54 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application was filed by Umesh Gupta, the Resolution Professional (RP) for Shakti Bhog Snacks Limited.
The tribunal in its order dated 30 June 2025 said that allowing dissolution of Shakti Bhog Snacks despite pendency of case in PMLA court would amount to judicial overreach and would impair Enforcement Directorate’s ability to complete the trial and recover proceeds of crime. The NCLT further said that insolvency resolution process cannot be used as a mechanism to frustrate or sidestep the…