# In the matter of VIKRAM KAKADE CONSTRUCTIONS PRIVATE LIMITED

> NCLT judgment dated 2026-02-23. Citation: TCN-2026-NCLT-00245. The case pertains to an application filed under Section 33(2) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 23 Feb 2026
- **Citation:** TCN-2026-NCLT-00245
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/vikram-kakade-constructions-private-limited-d3e266b2

## Summary

### Background

The case pertains to an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, for the liquidation of Vikram Kakade Constructions Private Limited.

## Facts

Samata Nagari Sahkari Patsanstha Maryadit, Kopargaon filed an application against Vikram Kakade Constructions Private Limited under Section 7 of the IBC.

CIRP was commenced vide order dated 10.11.2022.

Mr. Srinivas Subramaniam was appointed as Interim Resolution Professional (IRP) and later confirmed as Resolution Professional (RP).

The CoC resolved to replace the RP with Mr. Vinit Gangwal in the 2nd CoC Meeting held on 31.01.2023.

The IRP issued a Public Announcement in Form 'A' inviting claims on 16.11.2022.

The CoC was formed with Samata Nagari Sahkari Patsanstha Maryadit, Kopargaon holding 100% voting percentage.

The 6th CoC Meeting held on 21.02.2024, the CoC agreed to proceed with liquidation due to the absence of assets and the completion of the CIRP period.

…

## 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

…

**Reasoning:** The CoC has exercised its commercial wisdom in analyzing that the corporate debtor cannot

…

**Interpretation:** The Adjudicating Authority is satisfied that the present Interlocutory

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**Application:** The application for liquidation is allowed, and the Corporate Debtor, Vikram

…

## Parties

- **Judges:** LAKSHMI G…; Hariharan…
- **Appellants:** Samata Nagari…; Vinit Ga…
- **Respondents:** Vikram Kakade…; Vikram Kakade…
- **Other parties:** Samata Nagari…; Srinivas Subramani…
- **Advocates:** CA Raghunath…

## Timeline

- **2022-10-11 — Commencement…**: Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor was commenced vide…
- **2022-11-16 — Public Annou…**: The IRP issued a Public Announcement in Form 'A' inviting claims from various claimants…

## 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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