# In the matter of RAJESH LANDMARK PROJECTS PRIVATE LIMITED

> NCLT judgment dated 2025-08-01. Citation: TCN-2025-NCLT-01193. The case involves an application for liquidation of Rajesh Landmark Projects Private Limited,…

- **Court:** NCLT
- **Order date:** 1 Aug 2025
- **Citation:** TCN-2025-NCLT-01193
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/rajesh-landmark-projects-private-limited-dead25f0

## Summary

### Background

The case involves an application for liquidation of Rajesh Landmark Projects Private Limited, the Corporate Debtor, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated by IREP Credit Capital Private Limited, the Financial Creditor, under Section 7 of the Code. The Corporate Debtor was admitted into CIRP on 10.10.2022, and Mr. Bhrugesh Amin was appointed as the Interim Resolution Professional (IRP).

## Facts

The Company Petition No. 1029 of 2021 was filed by the Financial Creditor i.e., IREP Credit Capital Private Limited as per Section 7 of the Code to initiate Corporate Insolvency Resolution Process (“CIRP") against the Corporate Debtor i.e., Rajesh Landmark Projects Private Limited.

Vide Order dated 10.10.2022, the Corporate Debtor was admitted into CIRP and Mr. Bhrugesh Amin was appointed as the Interim Resolution Professional (“IRP”) of the Corporate Debtor.

The IRP made a public announcement of initiation of CIRP on 13.10.2022 in accordance with the provisions the Code and CIRP Regulations to invite claims from Creditors.

The last date for filing of claims was 24.10.2022.

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## Issues and analysis

### Issue 1: Whether the application for liquidation under Section 33(2) of the Insolvency and Bankruptcy Code, …

**Ratio:** Section 33(2) of the Code provides that the Adjudicating Authority shall pass an order

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**Reasoning:** The CoC rejected the Resolution Plan dated 02.07.2024 submitted by RARE ARC by 100% vote

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**Interpretation:** The commercial decision of CoC is non-justiciable, and the Tribunal is not

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**Application:** The Adjudicating Authority allowed the application for liquidation as the CoC

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## Parties

- **Judges:** Sushil Mahadeorao…; Charanjeet Singh…
- **Appellants:** IREP Credit…; Manish Motilal…; +1 more
- **Respondents:** Rajesh Landmark…
- **Other parties:** ASSETS CARE &…; Smita G…; +2 more
- **Advocates:** Nausher…; Devul D…

## Timeline

- **10.10.2022 — CIRP Commen…**: Corporate Debtor admitted into CIRP;…
- **13.10.2022 — Public Annou…**: IRP made a public…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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