# In the matter of Anjali Waterford Hospitality And Infra Limited

> NCLT judgment dated 2024-08-13. Citation: TCN-2024-NCLT-00817. The case pertains to the Corporate Insolvency Resolution Process (CIRP) and subsequent…

- **Court:** NCLT
- **Order date:** 13 Aug 2024
- **Citation:** TCN-2024-NCLT-00817
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/anjali-waterford-hospitality-and-infra-limited-270f0f85

## Summary

### Background

The case pertains to the Corporate Insolvency Resolution Process (CIRP) and subsequent liquidation of Anjali Waterford Hospitality & Infra Pvt Ltd. The CIRP was initiated on 22.02.2021, and Shri Pradeep Kumar Sravanam was appointed as the Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP). As no resolution plans were received, the Tribunal passed a liquidation order on 13.05.2022. Following the demise of the initial liquidator, a new liquidator was appointed on 31.03.2023. The liquidation process involved the valuation of assets, invitation of claims, constitution of a Stakeholders Committee (SCC), and multiple attempts to sell the assets through e-auctions. The final e-auction was successful, and the proceeds were

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## Facts

Anjali Waterford Hospitality & Infra Pvt Ltd underwent Corporate Insolvency Resolution Process (CIRP) initiated on 22.02.2021. Shri Pradeep Kumar Sravanam was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Due to the absence of resolution plans, a liquidation order was issued on 13.05.2022. Following the death of Shri Pradeep Kumar Sravanam on 10.02.2023, a new liquidator was appointed on 31.03.2023. The liquidation process commenced on 13.05.2022. The liquidator issued a public announcement on 17.05.2022, inviting claims. The Stakeholders Committee (SCC) comprised M/s. Kakinada Coop Town Bank, holding a claim of Rs. 245.00 lakhs. The liquidator received five claims totaling Rs. 2083.00 lakhs, which

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## Issues and analysis

### Issue 1: Whether the liquidation process of the Corporate Debtor, Anjali Waterford Hospitality & Infra …

**Ratio:** The liquidation process must adhere to the Insolvency and Bankruptcy Code, 2016 (IBC) and

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**Reasoning:** The court reviewed the various steps taken by the liquidator, including asset valuation,

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**Interpretation:** The IBC and related regulations provide a framework for the liquidation of

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**Application:** The court found that the liquidator had followed the prescribed procedures,

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. CHARAN…
- **Respondents:** Anjali Water Ford…

## Timeline

- **2021-02-22 — CIRP Init…**: The Tribunal admitted the Corporate Debtor into Corporate Insolvency Resolution Process…
- **2022-05-13 — Liquidation…**: The Tribunal passed an order for liquidation…

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