# C A Sunny vs. Greenocare Engineering Pvt Ltd

> NCLT judgment dated 2026-09-16. Citation: TCN-2026-NCLT-01036. Corporate Insolvency Resolution Process (CIRP) was initiated against Greenocare Engineering Pvt…

- **Court:** NCLT
- **Order date:** 16 Sept 2026
- **Citation:** TCN-2026-NCLT-01036
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/c-a-sunny-vs-greenocare-engineering-private-limited-boxr5

## Summary

### Background

Corporate Insolvency Resolution Process (CIRP) was initiated against Greenocare Engineering Pvt Ltd on March 24, 2025. Jayashree S Iyer was appointed as the Interim Resolution Professional (IRP) and subsequently as the Resolution Professional (RP). The Committee of Creditors (CoC) was constituted, comprising Canara Bank and C.A. Sunny. Multiple Expressions of Interest (EOI) were invited, and resolution plans were received from a consortium of Mr. V. Kannan and Mr. Gurushankar, and Resurgent India Limited. Resurgent India Limited withdrew its plan. Mr. V. Kannan's consortium was initially deemed ineligible due to his status as a 'Wilful Defaulter', but an interim stay from the Madras High Court allowed him to participate. Despite reissuing Form-G multiple times and

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## Facts

Corporate Insolvency Resolution Process (CIRP) was initiated against Greenocare Engineering Pvt Ltd vide order dated 24.03.2025.

Jayashree S Iyer was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP).

The Applicant (IRP) issued a paper publication for claims on 31.03.2025, with the last date for filing claims being 11.04.2025.

The CoC was constituted, comprising Canara Bank (97.03% voting share) and C.A. Sunny (2.97% voting share), both identified as Financial Creditors.

In its first meeting on 28.04.2025, the CoC resolved to appoint Jayashree S Iyer as the RP.

Form-G inviting Expression of Interests (EOI) from Prospective Resolution Applicants (PRAs) was issued on 14.06.2025, with 30.06.2025 as the last date for submission.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Greenocare Engineering Private Limited, should be liquidated in …

**Ratio:** When the Committee of Creditors (CoC), with the requisite majority, resolves to liquidate

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**Reasoning:** The CoC, in its 17th meeting and subsequent e-mail voting on 21.05.2026, resolved with a

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**Interpretation:** Section 33(2) of the IBC grants the Adjudicating Authority the power to order

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**Application:** Given the CoC's clear resolution for liquidation with an overwhelming majority,

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## Parties

- **Judges:** SANJIV…; Venkataraman…
- **Appellants:** C A S…; JAYASHREE…; +1 more
- **Respondents:** Greenocare…; Greenocare…
- **Other parties:** CoC…; Canara…; +1 more
- **Advocates:** Arjun M…; Kartik Subr…

## Timeline

- **2025-03-24 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) initiated against Greenocare Engineering…
- **2025-03-31 — Public Announcement for…**: Applicant (IRP) issued paper publication in Financial Express (English) and Makkal Kural…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(2) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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