# In the matter of Anjali Waterford Hospitality and Infra Limited IA(IBC) 248-2022 in CP (IB) No. 251-9-HDB-2020

> NCLT judgment dated 2022-05-13. Citation: TCN-2022-NCLT-02760. The case involves an application filed under Section 33(2) read with Section 34 of the…

- **Court:** NCLT
- **Order date:** 13 May 2022
- **Citation:** TCN-2022-NCLT-02760
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/anjali-waterford-hospitality-and-infra-limited-iaibc-248-2022-in-cp-ib-no-251-9-46f2767f

## Summary

### Background

The case involves an application filed under Section 33(2) read with Section 34 of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of Anjali Waterford Hospitality and Infra Limited, the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by the Operational Creditor, P. Raghava Rao, under Section 9 of the Code. The petition was admitted on 2021-02-22, and Pradeep Kumar Sravanam was appointed as the Interim Resolution Professional (IRP).

## Facts

P. Raghava Rao, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Anjali Waterford Hospitality and Infra Pvt Ltd by filing a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition, numbered CP (IB) No. 251/9/HDB/2020, was admitted on 2021-02-22, and Pradeep Kumar Sravanam was appointed as the Interim Resolution Professional (IRP). The IRP was later appointed as the Resolution Professional (RP) by the Committee of Creditors (COC). The RP published Form G to invite Expressions of Interest (EOI) from prospective resolution applicants. However, no viable resolution plans were received. The COC, noting the absence of resolution plans and the unlikelihood of reviving the Corporate Debtor, decided to

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## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, Anjali Waterford Hospitality and …

**Ratio:** Section 33(2) of the Insolvency and Bankruptcy Code, 2016, allows the Adjudicating

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**Reasoning:** The Adjudicating Authority considered the fact that no viable resolution plans were

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**Interpretation:** Section 33(2) provides a mechanism for liquidation when resolution efforts

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**Application:** In this case, the absence of any viable resolution plan and the COC's decision

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. VEERA BRAHMA…
- **Appellants:** P. Raghav…
- **Respondents:** Anjali Waterford…

## Timeline

- **2020-01-01 — CP (IB) No. 251/7/HDB/20…**: Corporate Insolvency Resolution Process initiated by P. Raghava Rao against Anjali…
- **2021-02-22 — Admission of…**: The petition filed by P. Raghava Rao was admitted by the Adjudicating Authority, and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(2) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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