# In the matter of SSJV PROJECTS PRIVATE LIMITED

> NCLT judgment dated 2025-11-27. Citation: TCN-2025-NCLT-01702. Indian Bank filed a petition under Section 7 of the IBC, 2016 to initiate CIRP against SSJV…

- **Court:** NCLT
- **Order date:** 27 Nov 2025
- **Citation:** TCN-2025-NCLT-01702
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-bengaluru/ssjv-projects-private-limited-ed0c5031

## Summary

### Background

Indian Bank filed a petition under Section 7 of the IBC, 2016 to initiate CIRP against SSJV Projects Private Limited. The CIRP was initiated, and an Interim Resolution Professional (IRP) was appointed, later approved as RP. The CoC recommended early-stage liquidation due to the company's lack of ongoing business operations, tangible assets, and employees.

## Facts

Indian Bank filed a petition under Section 7 of IBC, 2016 to initiate CIRP against SSJV Projects Private Limited.

The CIRP was initiated on 04.07.2025, and an Interim Resolution Professional (IRP) was appointed.

The IRP was approved as RP by the CoC and accepted by the Adjudicating Authority.

The CoC recommended early-stage liquidation due to the company's lack of ongoing business operations, tangible assets, and employees.

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

The Adjudicating Authority allowed the application for liquidation under Section 33(2) of the IBC.

## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, SSJV Projects Private Limited, …

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

…

**Reasoning:** The CoC, exercising its commercial wisdom, decided to liquidate the Corporate Debtor due

…

**Interpretation:** The Adjudicating Authority interpreted Section 33(2) of the IBC to allow for

…

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

…

## Parties

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

## Timeline

- **2024-XX-XX — Filing of Company…**: Indian Bank filed C.P (IB) No. 34 of 2024 under Section 7 of IBC against SSJV Projects…
- **2025-07-04 — Admission o…**: The Company Petition was…

## 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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