# In the matter of Agarwal Reality Developers Private Limited

> NCLT judgment dated 2025-07-25. Citation: TCN-2025-NCLT-01132. The case pertains to an application filed by the Resolution Professional of M/s. Agarwal…

- **Court:** NCLT
- **Order date:** 25 Jul 2025
- **Citation:** TCN-2025-NCLT-01132
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/agarwal-reality-developers-private-limited-ba4d2106

## Summary

### Background

The case pertains to an application filed by the Resolution Professional of M/s. Agarwal Reality Developers Private Limited (Corporate Debtor) under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (IBC Code) seeking to liquidate the Corporate Debtor.

## Facts

The Resolution Professional of M/s. Agarwal Reality Developers Private Limited filed an application under Section 33(2) of the IBC seeking liquidation of the Corporate Debtor.

The Tribunal appointed Mr. Golla Ramakanta Rao as Interim Resolution Professional (IRP) on 08.07.2024.

A public announcement was issued on 16.07.2024, and the Committee of Creditors (CoC) was constituted on 22.07.2024.

The CoC found the received Resolution Plan unsatisfactory and resolved to issue Form-G again.

The CoC rejected the Resolution Plans with 100% voting on 02.06.2025.

The CoC approved the liquidation of the Corporate Debtor with 93.21% vote share in their 13th meeting held on 04.06.2025.

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## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor, M/s. Agarwal Reality Developers …

**Ratio:** Section 33(2) of the IBC allows for the liquidation of the Corporate Debtor when the

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**Reasoning:** The CoC rejected the resolution plans with 100% voting, indicating a lack of viable

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**Interpretation:** The Adjudicating Authority interpreted Section 33(2) to allow liquidation when

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**Application:** The Adjudicating Authority, being satisfied with the facts and circumstances,

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## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** Bank of Maharashtr…; Golla Ramakantha…
- **Respondents:** Agarwal Reality…
- **Other parties:** Murali Mohan…
- **Advocates:** Aishwarya…

## Timeline

- **08.07.2024 — Appointment…**: Mr. Golla Ramakanta Rao was appointed as…
- **16.07.2024 — Public Annou…**: A Public Announcement…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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