# In the matter of SSJV Projects Private Limited

> NCLT judgment dated 2025-11-27. Citation: TCN-2025-NCLT-01822. Indian Bank initiated CIRP against SSJV Projects Private Limited under Section 7 of IBC, which…

- **Court:** NCLT
- **Order date:** 27 Nov 2025
- **Citation:** TCN-2025-NCLT-01822
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/ssjv-projects-private-limited-c9e64bf0

## Summary

### Background

Indian Bank initiated CIRP against SSJV Projects Private Limited under Section 7 of IBC, which was admitted on 04.07.2025. An Interim Resolution Professional (IRP) was appointed and later approved as RP by the CoC.

## Facts

Indian Bank filed a petition under Section 7 of IBC against SSJV Projects Private Limited.

The CIRP was initiated on 04.07.2025.

The CoC decided for early liquidation of the Corporate Debtor.

The CoC approved the appointment of Mr. Ravindra Beleyur as the Liquidator.

The Adjudicating Authority allowed the application for liquidation on 27.11.2025.

The RP's claim for fee/remuneration for the interregnum period was declined.

## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor should be allowed under Section …

**Ratio:** Section 33(2) of the IBC allows the Adjudicating Authority to pass a liquidation order if

…

**Reasoning:** The CoC decided for early liquidation due to the Corporate Debtor having no ongoing

…

**Interpretation:** The Adjudicating Authority interpreted Section 33(2) to allow for liquidation

…

**Application:** The Adjudicating Authority applied Section 33(2) and allowed the application

…

## Parties

- **Judges:** Sunil Kumar…; Radhakrishna…
- **Appellants:** Indian…; SSJV Projects…; +1 more
- **Respondents:** SSJV Projects…; SSJV Projects…
- **Other parties:** Canara…; ICICI…; +2 more

## Timeline

- **2024-07-04 — CIRP Init…**: CIRP initiated against SSJV…
- **2025-07-09 — Public Annou…**: Public announcement issued in…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-bengaluru/ssjv-projects-private-limited-c9e64bf0