# SBI (SAM Branch) vs. M/s. Vibha Agro Tech Limited

> NCLT judgment dated 2026-05-22. Citation: TCN-2026-NCLT-00546. The Corporate Insolvency Resolution Process (CIRP) for M/s. Vibha Agro Tech Limited commenced…

- **Court:** NCLT
- **Order date:** 22 May 2026
- **Citation:** TCN-2026-NCLT-00546
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/sbi-sam-branch-vs-ms-vibha-agro-tech-limited-c68t0

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) for M/s. Vibha Agro Tech Limited commenced on 05.06.2023, initiated by State Bank of India under Section 7 of the IBC, 2016. Shri Madasa Kumar was appointed as the Resolution Professional (RP) on 22.12.2023, replacing Mr. Ram Ratan Kanoongo. An initial resolution plan by M/s Vasavi Realty Private Limited was approved by the CoC but subsequently challenged by the Suspended Directors and the All-Indian Kisan Sabha.

## Facts

The Corporate Insolvency Resolution Process (CIRP) for M/s. Vibha Agro Tech Limited commenced on 05.06.2023, initiated by State Bank of India under Section 7 of IBC, 2016.

Shri Madasa Kumar was appointed as the Resolution Professional (RP) on 22.12.2023, replacing Mr. Ram Ratan Kanoongo.

An initial resolution plan under IA (IBC) Plan 11/2024 submitted by M/s Vasavi Realty Private Limited was approved by the CoC but challenged by the Suspended Directors and the All-Indian Kisan Sabha.

The Tribunal ordered a fresh Public Announcement (Form-A) on 21.02.2025, directing completion of CIRP within a maximum of 180 days.

A fresh Form-A was issued on 27.02.2025 in multiple regional and national newspapers with a claim deadline of 07.03.2025.

…

## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M/s. Vibha Agro Tech Limited, should be put into liquidation under …

**Ratio:** When the Corporate Insolvency Resolution Process (CIRP) fails to yield an approved

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**Reasoning:** The CIRP for M/s. Vibha Agro Tech Limited extended beyond the maximum 330 days prescribed

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**Interpretation:** Section 33(1) of the IBC mandates liquidation if the Adjudicating Authority

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**Application:** In this case, the CIRP period, including all extensions, expired, and no

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## Parties

- **Judges:** SH. RAJEEV…; SH. SANJA…
- **Appellants:** State Bank of…; Madasa…; +1 more
- **Respondents:** M/s. Vibha Agro…
- **Other parties:** CoC…; Paruchuri…; +3 more
- **Advocates:** G.P. Yash V…; Deva…

## Timeline

- **2023-06-05 — CIRP Commen…**: Corporate Insolvency Resolution Process (CIRP) commenced against M/s. Vibha Agro Tech…
- **2023-12-22 — RP Appoin…**: Shri Madasa Kumar was appointed as the Resolution Professional (RP), replacing Mr. Ram…

## 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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