# Reliance Commercial Finance Limited vs. Rosewood Projects Private Limited

> NCLT judgment dated 2026-07-03. Citation: TCN-2026-NCLT-00704. Authum Investments & Infrastructure Limited (formerly Reliance Commercial Finance Limited), the…

- **Court:** NCLT
- **Order date:** 3 Jul 2026
- **Citation:** TCN-2026-NCLT-00704
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/reliance-commercial-finance-limited-vs-rosewood-projects-private-limited-1i0fz

## Summary

### Background

Authum Investments & Infrastructure Limited (formerly Reliance Commercial Finance Limited), the Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Rosewood Projects Private Limited, the Corporate Debtor. Mr. Shailendra Singh was initially appointed as Interim Resolution Professional (IRP), and subsequently, Mr. Ritesh Prakash Adatiya was appointed as the Resolution Professional (RP). Despite multiple extensions for the CIRP period and re-issuance of Form G to invite resolution plans, no compliant resolution plan was received for the Corporate Debtor.

## Facts

Authum Investments & Infrastructure Limited (formerly Reliance Commercial Finance Limited), the Financial Creditor, filed a petition under Section 7 of the IBC to initiate CIRP against Rosewood Projects Private Limited.

The Adjudicating Authority initiated CIRP against Rosewood Projects Private Limited on 24.04.2024 and appointed Mr. Shailendra Singh as the Interim Resolution Professional (IRP).

The IRP made a public announcement on 26.04.2024 to intimate the commencement of CIRP and invite claims from creditors.

Authum Investments & Infrastructure Limited submitted its financial claim on 21.06.2024 and became the sole member of the CoC, holding 100% voting share.

Mr. Ritesh Prakash Adatiya was appointed as the Resolution Professional (RP) on 23.09.2024.

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## Issues and analysis

### Issue 1: Whether the Corporate Debtor, Rosewood Projects Private Limited, should be ordered for liquidation …

**Ratio:** The Corporate Debtor is to be liquidated when the Committee of Creditors resolves to

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**Reasoning:** The Committee of Creditors (CoC), with 100% voting shares, resolved to initiate

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**Interpretation:** Section 33(2) mandates liquidation if the CoC decides to liquidate the

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**Application:** Since the CoC unanimously resolved to liquidate the Corporate Debtor due to a

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## Parties

- **Judges:** BIDISHA BA…; Rekha Kantilal…
- **Appellants:** Reliance Commercia…; Authum Investments…; +1 more
- **Respondents:** Rosewood Projects…
- **Other parties:** Shailendra…; Vaibhav Kha…
- **Advocates:** Ranit Kuma…

## Timeline

- **2024-04-24 — CIRP Initiation and IRP…**: CIRP initiated against Rosewood Projects Private Limited; Mr. Shailendra Singh appointed…
- **2024-04-26 — Public Announcement by…**: IRP made a public announcement in newspapers to intimate CIRP commencement and invite…

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