# In the matter of POINT DEVELOPERS PRIVATE LIMITED

> NCLT judgment dated 2025-09-23. Citation: TCN-2025-NCLT-01437. An Interlocutory Application was filed by the Resolution Professional under Section 33(2) of…

- **Court:** NCLT
- **Order date:** 23 Sept 2025
- **Citation:** TCN-2025-NCLT-01437
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/point-developers-private-limited-9b1bc355

## Summary

### Background

An Interlocutory Application was filed by the Resolution Professional under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, for initiating the Liquidation Process against M/s. Point Developers Private Limited (Corporate Debtor).

## Facts

An Interlocutory Application was filed by the Resolution Professional for initiating Liquidation Process against Point Developers Private Limited.

The Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor was initiated on 26.07.2024.

The IRP published a notice inviting claims from the Stakeholders of the Corporate Debtor on 31st July, 2024.

The IRP formed the Committee of Creditors (CoC) with Rushabh Civil Contractors Private Limited as the sole member.

The IRP was replaced on 7th January, 2025.

The CoC decided to initiate the Liquidation of the Corporate Debtor.

No Resolution Plan was received or approved.

Umesh Balaram Sonkar was appointed as Liquidator.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority can pass an order for liquidation of the Corporate Debtor under …

**Ratio:** Section 33 of the Code empowers the Adjudicating Authority to pass an order of

…

**Reasoning:** No Resolution Plan could be brought forth and voted for, and in the absence of any

…

**Interpretation:** The Adjudicating Authority is empowered to order liquidation when no resolution

…

**Application:** The Bench, being vested with the powers to pass an order of Liquidation of the

…

## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** Rushabh Civil…
- **Respondents:** Point Developers…
- **Other parties:** Umesh Balaram…; Vaishali Arun…
- **Advocates:** Surekha…; Avinash R.…; +1 more

## Timeline

- **2024-07-26 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor was initiated by…
- **2024-07-31 — Public Annou…**: The IRP caused a publication of notice inviting claims from the Stakeholders of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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