# In the matter of ROOFCO TRADING COMPANY PRIVATE LIMITED

> NCLT judgment dated 2025-12-02. Citation: TCN-2025-NCLT-01871. The petition was filed under Section 10 of the Insolvency & Bankruptcy Code, 2016, read with…

- **Court:** NCLT
- **Order date:** 2 Dec 2025
- **Citation:** TCN-2025-NCLT-01871
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kochi/roofco-trading-company-private-limited-07bdac0d

## Summary

### Background

The petition was filed under Section 10 of the Insolvency & Bankruptcy Code, 2016, read with Rule 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) in respect of ROOFCO Trading Company Private Limited.

## Facts

The petition was filed under Section 10 of the Insolvency & Bankruptcy Code, 2016.

ROOFCO Trading Company Private Limited is the Corporate Applicant.

The Corporate Applicant's CIN is U51432KL2004PTC017322.

The total amount in default towards Financial Creditors is Rs. 23,36,51,745/-.

The total amount in default towards Operational Creditors is Rs. 5,55,33,865/-.

State Bank of India and YES Bank issued notices under Section 13(2) of the SARFAESI Act.

The Corporate Applicant had previously filed an application under Section 10, which was dismissed due to incomplete annexures.

The Board of Directors passed a resolution for initiation of CIRP on 19.09.2025.

Shareholders passed a resolution for initiation of CIRP on 20.09.2025.

…

## Issues and analysis

### Issue 1: Whether the application under Section 10 of the Insolvency and Bankruptcy Code, 2016 is complete …

**Ratio:** The Adjudicating Authority observed that the petition contained the particulars required

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**Reasoning:** The Corporate Applicant submitted the necessary documents, including financial

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**Interpretation:** The Adjudicating Authority interpreted Section 10 to require the submission of

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**Application:** The Adjudicating Authority applied Section 10 by verifying the completeness of

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## Parties

- **Judges:** Shri. Vina…
- **Respondents:** ROOFCO Trading…
- **Other parties:** Mr Ajith Bh…; State Bank of…; +3 more
- **Advocates:** Mr Krishna…; Mr Vinod.…; +1 more

## Timeline

- **2025-09-25 — Date of Inst…**: The date on which the…
- **2025-12-02 — Order deliv…**: The date on which the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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