# In the matter of REGENCY LINX EXPORTS PRIVATE LIMITED

> NCLT judgment dated 2026-03-02. Citation: TCN-2026-NCLT-00255. The application was filed under Section 33 of the Insolvency & Bankruptcy Code, 2016 by Union…

- **Court:** NCLT
- **Order date:** 2 Mar 2026
- **Citation:** TCN-2026-NCLT-00255
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/regency-linx-exports-private-limited-e44c36f0

## Summary

### Background

The application was filed under Section 33 of the Insolvency & Bankruptcy Code, 2016 by Union Bank of India, a Financial Creditor, for the liquidation of Regency Linx Exports Private Limited, the Corporate Debtor.

## Facts

The Corporate Insolvency Resolution Process (CIRP) of Regency Linx Exports Private Limited was initiated on 25.01.2020 following an application by an Operational Creditor.

Kedarram R Laddha was appointed as the Interim Resolution Professional and later took charge as the Resolution Professional.

Public announcements were made on 01.02.2020, and Union Bank of India lodged its claim on 29.02.2020 for Rs. 13,69,00,630/- and was invited as a CoC member.

The promoters and management of the Corporate Debtor failed to cooperate with the Resolution Professional and the CoC.

The last audited financial statements available were for the financial year 2014-2015, and no assets were found to be existing or available at the time of CIRP.

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority should order the liquidation of the Corporate Debtor, …

**Ratio:** Section 33 of the Insolvency

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**Reasoning:** The CIRP period has expired, there are no assets available with the Corporate Debtor, no

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**Interpretation:** The Adjudicating Authority has the power to order liquidation when the CIRP has

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**Application:** The Adjudicating Authority ordered the liquidation of the Corporate Debtor,

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## Parties

- **Judges:** JYOTI KUMAR…; RAVICHANDRAN…
- **Appellants:** Union Bank of…
- **Respondents:** Regency Linx…
- **Other parties:** Bondalapati…; Kedarram R…
- **Advocates:** Ashwin Sh…; Bhagavath K…

## Timeline

- **2020-01-25 — Commencement…**: The Corporate Insolvency…
- **2020-02-01 — Publication of public…**: Public announcement was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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