# In the matter of Flow Bangalore Waterjet Private Limited

> NCLT judgment dated 2025-08-25. Citation: TCN-2025-NCLT-01276. The case pertains to an application filed under Section 33(2) and Section 60(5) of the…

- **Court:** NCLT
- **Order date:** 25 Aug 2025
- **Citation:** TCN-2025-NCLT-01276
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/flow-bangalore-waterjet-private-limited-ccd178d1

## Summary

### Background

The case pertains to an application filed under Section 33(2) and Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016, by Mr. Srinivas Thatikonda, the Resolution Professional of M/s. Flow Bangalore Waterjet Private Limited, seeking liquidation of the Corporate Debtor.

## Facts

The Company Petition bearing C.P (IB) No. 16/BB/2023 was filed under Section 10 of the Insolvency and Bankruptcy Code, 2016 by M/s. Flow Bangalore Waterjet Private Limited to initiate Corporate Insolvency Resolution Process (CIRP) against itself.

The CIRP was admitted on 13.09.2024, and Mr. Srinivas Thatikonda was appointed as Interim Resolution Professional (IRP) of the Corporate Debtor.

The IRP issued a Public Announcement in the newspapers in Form-A on 14.09.2024, and the last date for submission of claims was 27.09.2024.

The RP received claims from 2 related parties, but no claims were received from financial creditors.

The Committee of Creditors (CoC) was constituted with two Operational Creditors.

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## Issues and analysis

### Issue 1: Whether the application for liquidation of …

**Ratio:** Section 33(2) of the

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**Reasoning:** The CoC decided to liquidate the Corporate Debtor due to the lack of a viable resolution

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**Interpretation:** The Adjudicating Authority can order liquidation if the resolution professional

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**Application:** The Tribunal allowed the application and directed the liquidation of the

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## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** Srinivas Thatikond…
- **Respondents:** Flow Bangalore…
- **Other parties:** Flow Asia…; Flow International…
- **Advocates:** Noopur…

## Timeline

- **13.09.2024 — Admission o…**: The Corporate Insolvency…
- **14.09.2024 — Public Annou…**: The IRP issued a Public…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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