# In the matter of RKKR HOLDINGS PRIVATE LIMITED

> NCLT judgment dated 2026-03-02. Citation: TCN-2026-NCLT-00199. The application was filed under Section 33 of the Insolvency & Bankruptcy Code, 2016 by P.…

- **Court:** NCLT
- **Order date:** 2 Mar 2026
- **Citation:** TCN-2026-NCLT-00199
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/rkkr-holdings-private-limited-9275fb88

## Summary

### Background

The application was filed under Section 33 of the Insolvency & Bankruptcy Code, 2016 by P. Balasubramaniam, the Resolution Professional of RKKR Holdings Private Limited, the Corporate Debtor, seeking liquidation.

## Facts

The Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor was initiated vide order dated 27.06.2025.

P. Balasubramaniam was appointed as the Interim Resolution Professional (IRP) vide order dated 27.06.2025.

Public announcements were made on 04.07.2025.

The Committee of Creditors (CoC) was constituted on 24.07.2025.

The first meeting of the CoC was held on 01.08.2025.

P. Balasubramaniam was appointed as the Resolution Professional (RP) on 09.08.2025.

The 4th CoC Meeting held on 06.10.2025 proposed liquidation.

The CoC member representing Bank of Baroda, holding a vote share of 72.23% voted in support of initiation of liquidation.

The Corporate Debtor did not receive any Expression of Interest (Eol).

## Issues and analysis

### Issue 1: Whether to allow the application for …

**Ratio:** Based on the CoC's decision and the

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**Reasoning:** The CIRP has run its course without culmination in a viable Resolution Plan. The CoC

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**Interpretation:** The Tribunal finds it appropriate to initiate liquidation of the Corporate

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**Application:** The application for

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## Parties

- **Judges:** JYOTI KUMAR…; RAVICHANDRAN…
- **Appellants:** P. Balasubr…
- **Respondents:** RKKR Holdings…
- **Other parties:** Bank of B…; Union Bank of…; +3 more
- **Advocates:** S. Sathyana…; G. Thyaga…; +4 more

## Timeline

- **2025-06-27 — Commencement…**: The Corporate Insolvency Resolution Process…
- **2025-06-27 — Appointment…**: P. Balasubramaniam was appointed as the…

## Legal provisions

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

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