# Sundha Road Developers Pvt. Ltd. vs. Khush Infra Private Limited & Ors.

> NCLT judgment dated 2026-10-12. Citation: TCN-2026-NCLT-01205. The Corporate Insolvency Resolution Process (CIRP) was initiated against Sundha Road Developers…

- **Court:** NCLT
- **Order date:** 12 Oct 2026
- **Citation:** TCN-2026-NCLT-01205
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-jaipur/sundha-road-developers-private-limited-uxag1

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) was initiated against Sundha Road Developers Private Limited (Corporate Debtor) based on a Section 10 petition. Mr. Vikas Rajvanshi was appointed as the Interim Resolution Professional (IRP) and subsequently continued as the Resolution Professional (RP). The Committee of Creditors (CoC) was constituted with Khush Infratech Private Limited as its sole member, holding 100% voting share. Despite efforts, no resolution plan was received for the Corporate Debtor, which had remained non-operational.

## Facts

IA (IBC)(Liq.) No. 4/JPR/2024 was filed by Mr. Vikas Rajvanshi, Resolution Professional (RP) of Sundha Road Developers Private Limited (Corporate Debtor).

The application seeks liquidation of the Corporate Debtor under Section 33(2) of the Insolvency and Bankruptcy Code, 2016.

The Committee of Creditors (CoC) decided to liquidate the Corporate Debtor in its 5th meeting held on 10.08.2024.

The Adjudicating Authority admitted the petition filed by the Corporate Debtor under Section 10 of the Code on 31.01.2024, initiating the Corporate Insolvency Resolution Process (CIRP).

Mr. Vikas Rajvanshi was appointed as the Interim Resolution Professional (IRP).

A public announcement in Form A was made on 03.02.2024, fixing 14.02.2024 as the last date for submission of claims.

…

## Issues and analysis

### Issue 1: Whether the prayer for liquidation of Sundha Road Developers Private Limited pursuant to the …

**Ratio:** The Adjudicating Authority shall pass a liquidation order if the Resolution Professional

…

**Reasoning:** The CoC, comprising a sole financial creditor (Khush Infratech Private Limited) with 100%

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**Interpretation:** Section 33(2) of the IBC is interpreted to mandate the Adjudicating Authority

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**Application:** Given that the CoC of Sundha Road Developers Private Limited, holding 100%

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## Parties

- **Judges:** Reeta K…; Kavita Bha…
- **Appellants:** Vikas Raj…
- **Respondents:** Sundha Road…; Khush Infra…
- **Other parties:** Khush Infratech…; Pankaj Bh…
- **Advocates:** Prateek K…

## Timeline

- **2024-01-31 — CIRP Init…**: Adjudicating Authority admitted the Section 10 petition and initiated the Corporate…
- **2024-02-03 — Public Annou…**: The Applicant made a public…

## 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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