# Axis Bank Ltd vs. Kallam Brothers Cottons Pvt Ltd

> NCLT judgment dated 2026-07-31. Citation: TCN-2026-NCLT-00751. The Resolution Professional (RP) filed an application under Section 33(2) read with Section 34…

- **Court:** NCLT
- **Order date:** 31 Jul 2026
- **Citation:** TCN-2026-NCLT-00751
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-amaravati/axis-bank-ltd-vs-kallam-brothers-cottons-pvt-ltd-7a6mz

## Summary

### Background

The Resolution Professional (RP) filed an application under Section 33(2) read with Section 34 of the Insolvency and Bankruptcy Code, 2016 (IBC) seeking the liquidation of the Corporate Debtor, Kallam Brothers Cottons Private Limited. The application was initially e-filed on 25.06.2026, faced registry objections, and was subsequently re-filed on 09.07.2026. The Committee of Creditors (CoC) had already approved the resolution for liquidation with 100% voting share in its 7th meeting on 29.05.2026.

## Facts

IA (IBC) (LIQ)/05/2026 was e-filed on 25.06.2026 by the Resolution Professional.

The application sought an order under Section 33(2) of the IBC for the liquidation of Kallam Brothers Cottons Private Limited.

The Registry raised objections, leading to the application being re-filed on 09.07.2026 and physically filed on 01.07.2026.

The application was first listed for hearing on 15.07.2026.

The CoC, in its 7th meeting on 29.05.2026, approved the resolution to liquidate the Corporate Debtor with 100% voting share, as per the voting summary report dated 08.06.2026.

Initially, the lead CoC Member proposed Sri CA Vamsi Kambhammettu as Liquidator via email on 16.06.2026, with a JLM resolution dated 10.06.2026.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Kallam Brothers Cottons Private Limited, should be ordered to be …

**Ratio:** The Committee of Creditors (CoC) unanimously resolved to liquidate the Corporate Debtor,

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**Reasoning:** The Resolution Professional submitted that the CoC, in its 7th meeting, approved the

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**Interpretation:** Section 33(2) of the IBC mandates the Adjudicating Authority to pass a

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**Application:** Given the CoC's 100% approval for liquidation and the RP's application, the

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## Parties

- **Judges:** KISHORE VEMULAPALL…; UMESH KUMAR…
- **Appellants:** Axis Ban…; Resolution…
- **Respondents:** Kallam Brothers…
- **Other parties:** Axis Bank L…; HDFC Bank L…; +4 more
- **Advocates:** Mummaneni Vazra…; Counsel for…; +1 more

## Timeline

- **2026-05-29 — CoC Meet…**: 7th CoC meeting held where the resolution to…
- **2026-06-08 — Voting Summar…**: Voting summary report dated, indicating…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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