# In the matter of VIRATRA EXPORT PRIVATE LIMITED

> NCLT judgment dated 2025-09-26. Citation: TCN-2025-NCLT-01456. The Corporate Insolvency Resolution Process (CIRP) was initiated against Viratra Export Pvt.…

- **Court:** NCLT
- **Order date:** 26 Sept 2025
- **Citation:** TCN-2025-NCLT-01456
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-jaipur/viratra-export-private-limited-12e6caa9

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) was initiated against Viratra Export Pvt. Ltd. The Interim Resolution Professional (IRP) failed to provide necessary information and did not seek an extension for completing the CIRP. The Adjudicating Authority issued a show cause notice to the IRP.

## Facts

The Hon'ble Court listed the case suo moto due to lack of information from the IRP.

The CIRP was initiated vide order dated 12.04.2023.

The IRP did not seek an extension for completing the CIRP.

A show cause notice was issued to the IRP for potential referral to IBBI.

The IRP failed to file a status report despite instructions.

A cost of Rs. 30,000 was imposed on the IRP.

The IRP stated difficulties in taking physical possession of the Corporate Debtor.

The IRP has not constituted the CoC.

SBI, the only FC, filed a claim of Rs. 28668192.37, which was considered belated by the IRP.

The IRP has not filed an application u/s 19(2) against the Suspended Management.

The IRP has not carried out any of the processes of the CIRP since its commencement.

…

## Issues and analysis

### Issue 1: Whether the IRP has failed to perform …

**Ratio:** Yes, the IRP has failed

…

**Reasoning:** The IRP failed to provide information, seek extensions, constitute the CoC, take

…

**Interpretation:** The IRP's actions demonstrate a lack of diligence and a failure to comply with

…

**Application:** The Adjudicating Authority replaced the IRP and referred the matter to the IBBI

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## Parties

- **Judges:** Reeta K…; Kavita Bha…
- **Appellants:** M/s Tushar…
- **Respondents:** Viratra Export…
- **Other parties:** SBI…; Sachin…; +1 more

## Timeline

- **12.04.2023 — CIRP Init…**: CIRP was initiated…
- **N/A — Show Cause…**: Show cause notice issued to IRP…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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