# RKKR Holdings Private Limited

> NCLT judgment dated 2025-06-27. Citation: TCN-2025-NCLT-00765. The case pertains to an application filed under Section 10 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 27 Jun 2025
- **Citation:** TCN-2025-NCLT-00765
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/rkkr-holdings-private-limited-901ab53f

## Summary

### Background

The case pertains to an application filed under Section 10 of the Insolvency and Bankruptcy Code, 2016 by RKKR Holdings Private Limited, the Corporate Applicant, for initiation of Corporate Insolvency Resolution Process (CIRP). The application was filed due to the Corporate Debtor's inability to meet its financial obligations to its Financial Creditors and Operational Creditors.

## Facts

RKKR Holdings Private Limited filed an application under Section 10 of the Insolvency and Bankruptcy Code, 2016 for initiation of CIRP.

The Corporate Applicant defaulted on payments to Financial Creditors amounting to Rs.662,98,62,343.45/-.

The Corporate Applicant defaulted on payments to Operational Creditors amounting to Rs.2,38,85,044.96/-.

The Corporate Applicant submitted a statement of affairs as on 23.01.2023.

The Corporate Applicant had given corporate guarantees to SBQ Steels Limited, which subsequently defaulted.

Mr. P. Balasubramanian was appointed as the Interim Resolution Professional (IRP).

## Issues and analysis

### Issue 1: Whether the application under Section 10 of the Insolvency and Bankruptcy Code, 2016 for initiation …

**Ratio:** Section 10 of the IBC allows a corporate debtor to initiate CIRP when it has committed a

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**Reasoning:** The Corporate Applicant has defaulted on payments to Financial Creditors and Operational

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**Interpretation:** The Adjudicating Authority interpreted Section 10 to mean that if a corporate

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**Application:** The Adjudicating Authority applied Section 10 to the facts of the case and

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## Parties

- **Judges:** JYOTI KUMAR…; RAVICHANDRAN…
- **Respondents:** RKKR Holdings…
- **Other parties:** Ritesh…; Shreyans Finlease…; +13 more
- **Advocates:** Rohan Rajas…; R.Ramasubramaniam…

## Timeline

- **2023-06-27 — Order Pron…**: Order was pronounced on…
- **2022-12-15 — Board Reso…**: Board resolution of the Corporate Debtor was passed approving for initiating Corporate…

## 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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