# Mr. SRINIVASA RAO IDUPULAPATI vs. M/s.ISR INFRA PVT. LIMITED & COMMITTEE OF CREDITORS

> NCLAT judgment dated 2026-07-06. Citation: TCN-2026-NCLAT-00236. Mr. SRINIVASA RAO IDUPULAPATI, erstwhile Chief Promoter and Managing Director of M/s. ISR…

- **Court:** NCLAT
- **Order date:** 6 Jul 2026
- **Citation:** TCN-2026-NCLAT-00236
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-chennai/mr-srinivasa-rao-idupulapati-vs-msisr-infra-pvt-limited-committee-of-creditors-yr1eq

## Summary

### Background

Mr. SRINIVASA RAO IDUPULAPATI, erstwhile Chief Promoter and Managing Director of M/s. ISR Infra Pvt. Limited (Corporate Debtor), appealed against an NCLT order dated 10.05.2021, which directed the liquidation of the Corporate Debtor under Section 33(1)(a) of the IBC. The Appellant argued that liquidation was premature and that he had made efforts for settlement with the Financial Creditor (Indian Overseas Bank) and revival of the CD. The CD's account had become an NPA, and CIRP was initiated by an Operational Creditor, whose dues were later settled by the Appellant.

## Facts

Mr. SRINIVASA RAO IDUPULAPATI (Appellant) was the erstwhile Chief Promoter and Managing Director of M/s. ISR Infra Pvt. Limited (Corporate Debtor).

The Ld. NCLT Amravati bench passed an order dated 10.05.2021 in IA No. 176/2019, allowing the application for liquidation of the Corporate Debtor under Section 33(1)(a) of the I & B Code, 2016.

The Appellant's grievance is that liquidation was resorted to without exploring resolution possibilities first.

The Appellant claims to have made efforts to settle dues with the major Financial Creditor, Indian Overseas Bank, including pursuing OTS proposals.

The OTS proposal was declined by the Financial Creditor, resulting in the invocation of Section 33(1) of the I & B Code.

…

## Issues and analysis

### Issue 1: Whether the NCLT Amravati bench erred in passing the liquidation order dated 10.05.2021 without …

**Ratio:** The NCLT's order for liquidation was in consonance with Section 33(1)(a) of the I&B

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**Reasoning:** The CIRP period was extended multiple times at the Appellant's request, but no resolution

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**Interpretation:** Section 33(1)(a) allows for liquidation if the Adjudicating Authority does not

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**Application:** The NCLT correctly applied Section 33(1)(a) as the CIRP failed, no resolution

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## Parties

- **Judges:** Sharad Kumar…; Jatindranat…
- **Appellants:** SRINIVASA RAO…
- **Respondents:** M/s ISR Infra…; M/s.ISR INFRA…; +1 more
- **Other parties:** Indian Overseas…; Mr.Pradeep Kumar…; +2 more
- **Advocates:** P. Elayaraj…; JVL Bha…

## Timeline

- **2007 — Business Estab…**: Appellant established a partnership firm for Real Estate Business and construction, which…
- **2019-09 — CoC Consti…**: Committee of Creditors (CoC) for M/s. ISR…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 12A — (1) Subject to sub](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-12a)

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