# In the matter of PEEJAY AGRO FOODS PRIVATE LIMITED

> NCLT judgment dated 2026-02-25. Citation: TCN-2026-NCLT-00206. The case pertains to an application filed by the Resolution Professional, Mr. R. Raghavendran,…

- **Court:** NCLT
- **Order date:** 25 Feb 2026
- **Citation:** TCN-2026-NCLT-00206
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kochi/peejay-agro-foods-private-limited-f644acdc

## Summary

### Background

The case pertains to an application filed by the Resolution Professional, Mr. R. Raghavendran, of M/s. Peejay Agro Foods Private Limited, seeking an order for liquidation of the Corporate Debtor under Section 33(2) of the Insolvency and Bankruptcy Code (IBC), 2016, and for his appointment as the Liquidator under Section 34 of the Code.

## Facts

CIRP was initiated against M/s. Peejay Agro Foods Private Limited based on an application by the Financial Creditor.

Mr. R. Raghavendran was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP).

The Committee of Creditors (CoC) consisted of State Bank of India (SBI) holding 100% voting rights.

Multiple CoC meetings were held, and Form G was published to invite resolution plans.

Only one resolution plan was received from Esvaran Foods Mills Pvt Ltd, but it was rejected due to non-compliance, specifically the failure to furnish the Earnest Money Deposit (EMD).

The CoC resolved to liquidate the Corporate Debtor under Section 33(2) of the IBC.

The RP filed an application seeking liquidation and his appointment as the Liquidator.

…

## Issues and analysis

### Issue 1: Whether the Corporate Debtor, M/s. Peejay Agro Foods Private Limited, should be liquidated under …

**Ratio:** Section 33(2) of the IBC allows the Adjudicating Authority to order liquidation if no

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**Reasoning:** The CoC, with 100% voting share, resolved to liquidate the Corporate Debtor due to the

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**Interpretation:** The Adjudicating Authority has the power to order liquidation based on the

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**Application:** The Adjudicating Authority, considering the CoC's decision and the absence of a

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## Parties

- **Judges:** Vinay…
- **Appellants:** R. Raghav…
- **Respondents:** Peejay Agro Foods…
- **Other parties:** State Bank of…; Padmak…
- **Advocates:** Vinod…

## Timeline

- **2025-05-28 — CP (IBC)/8/KOB/2025…**: The Corporate Insolvency Resolution Process (CIRP) commenced, and the Applicant was…
- **2025-05-30 — Public Announcement…**: Public announcement was issued to…

## 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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