# In the matter of KANJIRAVELIL TRADERS PRIVATE LIMITED

> NCLT judgment dated 2026-03-18. Citation: TCN-2026-NCLT-00234. The case pertains to the liquidation of Kanjiravelil Traders Private Limited under Section…

- **Court:** NCLT
- **Order date:** 18 Mar 2026
- **Citation:** TCN-2026-NCLT-00234
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kochi/kanjiravelil-traders-private-limited-29f2aa8f

## Summary

### Background

The case pertains to the liquidation of Kanjiravelil Traders Private Limited under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated, and Mr. Balakrishnan Baburajan was appointed as the Interim Resolution Professional (IRP).

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated for Kanjiravelil Traders Private Limited.

Mr. Balakrishnan Baburajan was appointed as the Interim Resolution Professional (IRP).

The Committee of Creditors (CoC) was formed and convened its first meeting on 5th December 2025.

The CoC determined that there was no possibility of reviving the company through the resolution process.

The CoC unanimously authorized the IRP to seek the opinion of the members on whether to proceed with the liquidation of the Corporate Debtor.

The CoC approved the liquidation of the Corporate Debtor pursuant to Section 33(2) of the Insolvency and Bankruptcy Code, 2016.

SPP Insolvency Professionals LLP was appointed as the Liquidator of the Corporate Debtor.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor should be liquidated due to the lack of assets and the impossibility …

**Ratio:** Section 33(2) of the Insolvency and Bankruptcy Code, 2016 allows for the liquidation of a

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**Reasoning:** The Committee of Creditors determined that there was no possibility of reviving the

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**Interpretation:** The Adjudicating Authority interpreted the decision of the CoC as a valid

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**Application:** The Adjudicating Authority applied Section 33(2) of the Insolvency and

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## Parties

- **Judges:** Shri. Vina…
- **Appellants:** CS, Mr. Balakrishn…
- **Respondents:** Kanjiravelil…
- **Other parties:** SPP Insolvency…

## Timeline

- **2025-11-12 — Appointment…**: CS, Mr. Balakrishnan Baburajan was appointed…
- **2025-12-05 — First CoC M…**: The first meeting of the…

## 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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