# R. Venkatakrishnan vs. Shruthi Milk Products Private Limited

> NCLT judgment dated 2026-07-03. Citation: TCN-2026-NCLT-00702. The Corporate Insolvency Resolution Process (CIRP) was initiated against Shruthi Milk Products…

- **Court:** NCLT
- **Order date:** 3 Jul 2026
- **Citation:** TCN-2026-NCLT-00702
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/r-venkatakrishnan-vs-shruthi-milk-products-private-limited-se874

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) was initiated against Shruthi Milk Products Private Limited on April 29, 2025, based on a petition filed by a Financial Creditor under Section 7 of the IBC. R. Venkatakrishnan was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP). The initial CIRP period expired on October 26, 2025, and was extended by 90 days until January 24, 2026, upon the recommendation of the Committee of Creditors (CoC).

## Facts

The Corporate Insolvency Resolution Process (CIRP) of Shruthi Milk Products Private Limited was initiated on April 29, 2025, by the Tribunal in CP(IBC)/132(CHE)/2024.

R. Venkatakrishnan was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) for the Corporate Debtor.

The initial CIRP period expired on October 26, 2025.

The Committee of Creditors (CoC) recommended an extension, and the Tribunal extended the CIRP period by 90 days, setting the revised completion date as January 24, 2026.

Public announcement was made, and claims from Financial Creditors and Operational Creditors were collated and admitted.

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## Issues and analysis

### Issue 1: Whether an order for liquidation of the Corporate Debtor, Shruthi Milk Products Private Limited, …

**Ratio:** Liquidation of a Corporate Debtor is mandated under Section 33 of the IBC, 2016, when no

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**Reasoning:** The Resolution Professional confirmed that despite multiple opportunities and extensions,

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**Interpretation:** Section 33 of the IBC, 2016, provides for the initiation of liquidation

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**Application:** Given that the Resolution Plan submitted was non-compliant and the CoC

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## Parties

- **Judges:** Shri. JYOTI KUMAR…; SHRI. RAVICHANDRAN…
- **Appellants:** R.VENKATAKR…
- **Respondents:** Shruthi Milk…
- **Other parties:** Committee of…; S. Kannaiah…; +11 more
- **Advocates:** Tamilar…; Ashwin Sh…

## Timeline

- **29.04.2025 — Commencement…**: Corporate Insolvency Resolution Process (CIRP) commenced for Shruthi Milk Products…
- **29.04.2025 — Appointment…**: R. Venkatakrishnan was appointed as the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 230 — Delegation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-230)

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