# In the matter of Ramya Outsourcing Solutions Private Limited

> NCLT judgment dated 2026-04-17. Citation: TCN-2026-NCLT-00489. The Corporate Insolvency Resolution Process (CIRP) was initiated against Ramya Outsourcing…

- **Court:** NCLT
- **Order date:** 17 Apr 2026
- **Citation:** TCN-2026-NCLT-00489
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/ramya-outsourcing-solutions-private-limited-1cf6558c

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) was initiated against Ramya Outsourcing Solutions Private Limited (Corporate Debtor) on a petition filed by Mr. J. Mohan Babu under Section 7 of the IBC. Mr. R. Thamodharan was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) was constituted and later reconstituted, comprising four financial creditors and one operational creditor. The IRP presented audited financials showing significant irregularities and insufficient assets to cover CIRP expenses or claims. The CoC, noting the Corporate Debtor's minimal assets (Rs. 74,981/-) against substantial claims (Rs. 2.40 Crores) and CIRP expenses (Rs. 11,95,292/-), unanimously resolved for direct dissolution without undergoing a full

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## Facts

A petition was filed by Mr. J. Mohan Babu, proprietor of M/s. Annai Audit Firm, under Section 7 of the IBC against Ramya Outsourcing Solutions Private Limited.

CIRP was initiated against the Corporate Debtor on 26.07.2024, and Mr. R. Thamodharan was appointed as the Interim Resolution Professional (IRP).

Public announcement inviting claims was made on 03.08.2024.

The Committee of Creditors (CoC) was constituted on 19.08.2024 and reconstituted on 27.12.2024.

The CoC initially comprised J. Mohan Babu (43.29%), Bajaj Finserv Limited (12.69%), HDFC Bank Limited (1.71%), and ICICI Bank Limited (42.31%).

EPFO Department submitted a claim of Rs. 4,45,479/-, which was admitted by the RP.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Ramya Outsourcing Solutions Private Limited, can be directly …

**Ratio:** Direct dissolution of a Corporate Debtor without undergoing the full CIRP and liquidation

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**Reasoning:** The Corporate Debtor's tangible assets were valued at a mere Rs. 74,981/-, which further

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**Interpretation:** Section 54 read with Section 60(5) of the IBC, 2016, and Rule 11 of the NCLT

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**Application:** The Tribunal applied the principle established in various precedents, including

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## Parties

- **Judges:** SANJIV…; Venkataraman…
- **Appellants:** J Mohan…; R. Thamod…
- **Respondents:** Ramya Outsourcing…; Ramya Outsourcing…; +3 more
- **Other parties:** D. Venka…; EPF Amb…
- **Advocates:** Akash Ba…; T. Jayash…; +1 more

## Timeline

- **2024-07-26 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) initiated against Ramya Outsourcing…
- **2024-08-03 — Public Annou…**: Public announcement made in Business Standard (English) and Dina Mani (Tamil) inviting…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 54 — Dissolution of corporate debtor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-54)

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