# In the matter of SRI PAVANA KEERTI HOTELS INDIA PRIVATE LIMITED

> NCLT judgment dated 2025-11-20. Citation: TCN-2025-NCLT-01838. The case pertains to an Interlocutory Application (I.A (IBC) (Liq) No.03/2025) filed by the…

- **Court:** NCLT
- **Order date:** 20 Nov 2025
- **Citation:** TCN-2025-NCLT-01838
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/sri-pavana-keerti-hotels-india-private-limited-01a52123

## Summary

### Background

The case pertains to an Interlocutory Application (I.A (IBC) (Liq) No.03/2025) filed by the Resolution Professional (RP) of the Corporate Debtor, M/s Sri Pavana Keerthi Hotels India Pvt. Ltd., under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking orders for liquidation of the Corporate Debtor.

## Facts

The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 11.04.2022.

Mr. Gunturu Raghu Babu was initially appointed as the Interim Resolution Professional and subsequently continued as Resolution Professional.

An appeal was preferred before the Hon'ble NCLAT challenging the admission of the Corporate Debtor into CIRP, but it was dismissed.

A resolution plan submitted by Mr. Virigineni Anjaiah was approved by the Committee of Creditors (CoC).

The Successful Resolution Applicant (SRA) failed to submit the Performance Bank Guarantee (PBG) despite extensions.

The CoC resolved to forfeit the Earnest Money Deposit of Rs.50 lakh and cancel the Letter of Intent.

The CIRP period expired on 18.03.2025.

…

## Issues and analysis

### Issue 1: Whether the requirements of Section 33(2) of the Insolvency and Bankruptcy Code, 2016 are met for …

**Ratio:** Section 33(2) of the

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**Reasoning:** The CIRP period expired, and no viable resolution plan was available due to the failure

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**Interpretation:** The Tribunal interpreted that the conditions under Section 33(2) were satisfied

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**Application:** The Tribunal applied Section 33(2) and ordered the liquidation of the Corporate

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## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** PRIDHVI ASSET…; Govada Venkata…
- **Respondents:** Pavana Keerthi…
- **Other parties:** Pridhvi Asset…; Kadiyala Su…; +1 more
- **Advocates:** Mano Ra…; M. Rama…

## Timeline

- **2022-04-11 — Admission in…**: The Corporate Debtor was admitted into…
- **2022-06-29 — NCLAT Interi…**: The Hon'ble NCLAT issued an interim order…

## 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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