# In the matter of GVK Transportation Private Limited

> NCLT judgment dated 2025-10-07. Citation: TCN-2025-NCLT-01464. The application was filed by the Resolution Professional of GVK Transportation Private Limited…

- **Court:** NCLT
- **Order date:** 7 Oct 2025
- **Citation:** TCN-2025-NCLT-01464
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/gvk-transportation-private-limited-bb9b3c31

## Summary

### Background

The application was filed by the Resolution Professional of GVK Transportation Private Limited under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking initiation of liquidation.

## Facts

The application is filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, for initiating liquidation.

The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor pursuant to the admission of an Application under Section 7 of IBC.

The CoC was constituted, and the applicant was confirmed as the resolution professional with a majority vote of 95.84%.

Two resolution plans were submitted by Tavasya SSF and MKS Constro Ventures Pvt. Ltd., but both failed to comply with the provisions of IBC.

The CoC resolved to initiate liquidation of the Corporate Debtor under Section 33(2) of IBC with 74.93% majority voting.

The CoC approved the appointment of Aegis Resolution Services Pvt. Ltd. as the Liquidator with 74.93% voting.

…

## Issues and analysis

### Issue 1: Whether the application filed under Section 33(2) …

**Ratio:** Section 33(2) of IBC allows the Adjudicating Authority to pass an order for liquidation

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**Reasoning:** The CoC resolved to liquidate the Corporate Debtor due to the poor realizable value and

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**Interpretation:** The Tribunal interpreted Section 33(2) of IBC to allow the application for

…

**Application:** The Tribunal applied Section 33(2) of IBC and allowed the application for

…

## Parties

- **Judges:** Rammurti Ku…; Man Mohan…
- **Appellants:** Harish Kant…
- **Respondents:** GVK Transportation…; GVK Transportation…
- **Other parties:** J.C. Flowers…; Aegis Resolution…
- **Advocates:** Amir Ba…; Rish…

## Timeline

- **06.08.2024 — Initiation…**: CIRP was initiated against the Corporate Debtor pursuant to the admission of an…
- **05.09.2024 — First CoC M…**: The 1st CoC meeting was held, and the applicant was confirmed as the resolution…

## 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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