# In the matter of Sakthi Ganesh Textiles Private Limited

> Read the full IBC case summary for In the matter of Sakthi Ganesh Textiles Private Limited. NCLT judgment dated 2025-06-12. Citation: TCN-2025-NCLT-00896.

- **Court:** NCLT
- **Order date:** 12 Jun 2025
- **Citation:** TCN-2025-NCLT-00896
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/sakthi-ganesh-textiles-private-limited-dd6c13c2

## Summary

### Background

The case involves an application for liquidation of the corporate debtor, M/s. Sakthi Ganesh Textiles Pvt Ltd, after the Corporate Insolvency Resolution Process (CIRP) failed to yield a viable resolution plan. Additionally, there are applications from the Commercial Taxes Department, Government of Tamil Nadu, seeking to admit their claims which were previously rejected due to delay.

## Facts

An application was filed by an Operational Creditor, Ms. Babitha Sancheti, under Section 9 of the IBC, leading to the admission of the Corporate Debtor, Sakthi Ganesh Textiles Pvt Ltd, into CIRP on July 31, 2025. Mr. S. Kangayan was appointed as the Interim Resolution Professional (IRP). A public announcement was made on August 1, 2024, inviting claims, with the last date for submission being August 13, 2024. The IRP constituted the Committee of Creditors (CoC) based on admitted claims from three members: Axis Bank (68.97%), Standard Chartered Bank (27.75%), and Oxyzo Financial Services Ltd (3.28%).

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be…

**Ratio:** The Corporate Debtor shall be liquidated under Section 33 of the Insolvency and…

**Reasoning:** The CoC, in its commercial wisdom, unanimously resolved to liquidate the Corporate Debtor…

**Interpretation:** The court interpreted Section 33 of the IBC to allow for liquidation when the…

**Application:** Given the unanimous CoC resolution and the absence of any resolution plan, the…

## Parties

- **Judges:** SANJIV…; Venkataraman…
- **Advocates:** Sahaya S…; Aravinda…; +3 more

## Timeline

- **July 31, 2025 — CIRP Admi…**: Corporate Debtor Sakthi Ganesh Textiles Pvt Ltd was admitted into CIRP on an application…
- **August 1, 2024 — Public Annou…**: IRP Mr. S. Kangayan made a public…

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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-chandigarh/sakthi-ganesh-textiles-private-limited-dd6c13c2