# In the matter of FORT PROJECTS PVT LTD

> Read the full IBC case summary for In the matter of FORT PROJECTS PVT LTD. NCLT judgment dated 2025-06-20. Citation: TCN-2025-NCLT-00879.

- **Court:** NCLT
- **Order date:** 20 Jun 2025
- **Citation:** TCN-2025-NCLT-00879
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/fort-projects-pvt-ltd-9b998d26

## Summary

### Background

The application was filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, for the liquidation of the Corporate Debtor, Fort Projects Private Limited, after the Committee of Creditors rejected the resolution plan.

## Facts

The Corporate Insolvency Resolution Process (CIRP) for Fort Projects Private Limited, the Corporate Debtor, was initiated by an order of the Adjudicating Authority on November 9, 2023, following a petition filed by Emami Realty Limited, the Financial Creditor, under section 7 of the Insolvency and Bankruptcy Code, 2016. C.A. Kannan Tiruvengadam was initially appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) in the 3rd Committee of Creditors (CoC) meeting on February 27, 2024.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Fort Projects Private Limited, should be liquidated under Section…

**Ratio:** The Adjudicating Authority is enjoined by Section 33(2) of the Code to pass an order for…

**Reasoning:** The CoC rejected the Resolution Plan with a 76.63% voting share, finding it not fair and…

**Interpretation:** Section 33(2) mandates liquidation if the CoC decides to liquidate the…

**Application:** Given the CoC's rejection of the resolution plan and subsequent resolution for…

## Parties

- **Judges:** Labh S…; Rekha Kantilal…
- **Advocates:** Rishav Ba…

## Timeline

- **November 9, 2023 — CIRP Init…**: Adjudicating Authority directed the initiation of Corporate Insolvency Resolution Process…
- **February 27, 2024 — RP Appoin…**: In the 3rd CoC meeting, C.A Kannan Tiruvengadam was appointed as the Resolution…

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