# In the matter of BHARAT WATERFRONT PRIVATE LIMITED

> NCLT judgment dated 2025-12-03. Citation: TCN-2025-NCLT-01785. The Corporate Debtor (CD), Bharat Waterfront Private Limited, was admitted into Corporate…

- **Court:** NCLT
- **Order date:** 3 Dec 2025
- **Citation:** TCN-2025-NCLT-01785
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/bharat-waterfront-private-limited-5fa7e4dc

## Summary

### Background

The Corporate Debtor (CD), Bharat Waterfront Private Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) by an order of the Tribunal on 04.10.2023. The Applicant was appointed as the Interim Resolution Professional (IRP) and later continued as Resolution Professional (RP).

## Facts

The Corporate Debtor was admitted into CIRP on 04.10.2023.

The Applicant was appointed as IRP and later continued as RP.

The IRP issued a public announcement on 06.10.2023, inviting claims from creditors.

The CoC was constituted after verification of claims.

Form-G was issued twice, inviting Expression of Interest (EoI).

VARKS Engineers Private Limited submitted a resolution plan.

The CoC found neither of the resolution plans satisfactory.

The Applicant filed IAs seeking avoidance of PUFE transactions.

The CoC resolved to recommend the CD into liquidation with 100% vote share.

Mr. Golla Ramakantha Rao was appointed as the Liquidator.

## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be sent into …

**Ratio:** The CoC resolved with 100% vote share to recommend the CD into liquidation under Section

…

**Reasoning:** The Tribunal considered the submissions made in the application and the recommendation of

…

**Interpretation:** Section 33(1) of the IBC allows the Tribunal to order liquidation if there is

…

**Application:** The Tribunal ordered the liquidation of the Corporate Debtor based on the CoC's

…

## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** IL & FS Financial…; Mr Murali Mohan…
- **Respondents:** Bharat Waterfront…
- **Other parties:** IL & FS Financial…; Golla Ramakantha…; +1 more
- **Advocates:** Varun A…; M. Maharshi…

## Timeline

- **2023-10-04 — Admission in…**: The Corporate Debtor was admitted into…
- **2023-10-06 — Public Annou…**: The IRP issued a public announcement in Form-A, inviting claims from the creditors of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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