# In the matter of BHARAT WATERFRONT PRIVATE LIMITED

> NCLT judgment dated 2025-12-03. Citation: TCN-2025-NCLT-01803. The Corporate Debtor (CD), Bharat Waterfront Private Limited, was admitted into Corporate…

- **Court:** NCLT
- **Order date:** 3 Dec 2025
- **Citation:** TCN-2025-NCLT-01803
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/bharat-waterfront-private-limited-c42d18c9

## 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 CoC was constituted after verification of claims.

Form-G was issued twice, inviting EoI, but there was no response.

VARKS Engineers Private Limited submitted a Resolution Plan with an offer of Rs 2.0 crores.

The CoC found neither of the Resolution Plans satisfactory.

The Applicant filed IAs seeking avoidance of PUFE transactions.

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

Mr Golla Ramakantha Rao was appointed as Liquidator.

## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be liquidated under Section 33(1) of the IBC, 2016, due to the …

**Ratio:** Section 33(1) of the IBC allows for the liquidation of the Corporate Debtor if no

…

**Reasoning:** The CoC, in its 12th meeting, resolved with 100% vote share to recommend the CD into

…

**Interpretation:** The absence of an acceptable Resolution Plan, as determined by the CoC, is a

…

**Application:** The Tribunal considered the submissions and the CoC's recommendation and

…

## Parties

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

## Timeline

- **2023-10-04 — Admission in…**: The Corporate Debtor was admitted into…
- **2023-10-06 — Public Annou…**: The IRP issued a public announcement in…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-hyderabad/bharat-waterfront-private-limited-c42d18c9