# In the matter of Supreme Star Villa Private Limited

> NCLT judgment dated 2025-05-30. Citation: TCN-2025-NCLT-00035. The case pertains to an Interlocutory Application (I.A No. 13 of 2025) filed in CP No. 225 of…

- **Court:** NCLT
- **Order date:** 30 May 2025
- **Citation:** TCN-2025-NCLT-00035
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/supreme-star-villa-private-limited-fda1e878

## Summary

### Background

The case pertains to an Interlocutory Application (I.A No. 13 of 2025) filed in CP No. 225 of 2022 under Section 33(1) of the Insolvency and Bankruptcy Code, 2016, by the Resolution Professional of Supreme Star Villa Private Limited ('Corporate Debtor'). The application seeks an order for the liquidation of the corporate debtor, condonation of an 8-day delay in filing the liquidation application, and other related orders. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by SREI Equipment Finance Limited under Section 7 of the Code. The Interim Resolution Professional (IRP) was appointed, and a public announcement was made inviting creditors to file their claims. A Committee of Creditors (CoC) was constituted, comprising only

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## Facts

SREI Equipment Finance Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process (CIRP) for Supreme Star Villa Private Limited. Anup Kumar Singh was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). A public announcement was made to invite claims from creditors, with the last date for submission being 20.03.2024. The Committee of Creditors (CoC) was formed, consisting solely of SREI Equipment Finance Limited, which had a claim of Rs. 1,26,35,18,839/-. The RP appointed valuers and a transaction auditor. An invitation for Expression of Interest (EOI) was published multiple times, but it did not generate sufficient interest from

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## Issues and analysis

### Issue 1: Whether the delay of 8 days in filing the …

**Ratio:** The court has the discretion to condone delays in legal proceedings if sufficient cause

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**Reasoning:** The court considered the reasons provided by the Applicant for the delay and found them

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**Interpretation:** The court interpreted the provisions related to condonation of delay liberally,

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**Application:** The court applied the principle of condonation of delay to the facts of the

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## Parties

- **Judges:** LAKSHMI G…; Hariharan…
- **Appellants:** Anup Kumar…
- **Respondents:** Supreme Star…; SREI Equipment…

## Timeline

- **2024-03-06 — Admission…**: CIRP commenced vide…
- **2024-03-10 — Public Annou…**: Public Announcement was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(1) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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