# In the matter of VIJAY RAM TRADERS PRIVATE LIMITED

> NCLT judgment dated 2025-08-22. Citation: TCN-2025-NCLT-01338. The application was filed under Section 33 and Section 60(5) of IBC r/w Rule 11 of NCLT Rules…

- **Court:** NCLT
- **Order date:** 22 Aug 2025
- **Citation:** TCN-2025-NCLT-01338
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/vijay-ram-traders-private-limited-85719e9b

## Summary

### Background

The application was filed under Section 33 and Section 60(5) of IBC r/w Rule 11 of NCLT Rules seeking liquidation of the Corporate Debtor. CIRP was initiated on the application filed by the Corporate Applicant u/s 10 of IBC vide an Order dated 09.12.2024.

## Facts

CIRP was initiated on the Application filed by the Corporate Applicant u/s 10 of IBC vide an Order dated 09.12.2024.

The Corporate Debtor ceased its commercial operations six years back, and all the records/accounts were damaged.

One unsecured Financial Creditor submitted a claim, and there are no banks/financial institutions.

The IRP prepared the list of the Creditors which included Ram Chandran Traders Pvt. Ltd (unsecured Financial Creditor), Kakatiya Enclaves Pvt. Ltd (Operational creditor) and Income Tax Department (Operational Creditor) and constituted the CoC.

The first CoC meeting was held on 18.01.2025 where it was noticed that there are no assets in the fixed asset register.

…

## Issues and analysis

### Issue 1: Whether the application for liquidation of …

**Ratio:** Based on the facts presented, the Corporate Debtor has no fixed assets, has ceased

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**Reasoning:** The Corporate Debtor has no assets to sell, and the CoC is not willing to spend any

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**Interpretation:** The Adjudicating Authority considered the facts and the resolution passed in

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**Application:** The Adjudicating Authority approved the application for liquidation of the

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## Parties

- **Judges:** SANJIV…; Venkataraman…
- **Appellants:** G. Muku…
- **Respondents:** M/s Vijay Ram…
- **Other parties:** Ram Chandran…; G.S.Su…; +2 more
- **Advocates:** Pavit…; Chirag…; +1 more

## Timeline

- **2024-12-09 — CIRP Init…**: CIRP was initiated on the Application filed by the Corporate Applicant u/s 10 of IBC vide…
- **2025-01-18 — First CoC M…**: The first CoC meeting was held on 18.01.2025 where it was noticed that there are no…

## 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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