# In the matter of Aerens Jai Realty Private Limited

> NCLT judgment dated 2026-03-16. Citation: TCN-2026-NCLT-00353. An application was filed by Kisten Realtech Private Limited (Operational Creditor) to initiate…

- **Court:** NCLT
- **Order date:** 16 Mar 2026
- **Citation:** TCN-2026-NCLT-00353
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/aerens-jai-realty-private-limited-ba05473d

## Summary

### Background

An application was filed by Kisten Realtech Private Limited (Operational Creditor) to initiate Corporate Insolvency Resolution Process (CIRP) against Aerens Jai Realty Private Limited (Corporate Debtor) under Section 9 of the Code. The application was admitted on 30.05.2023, and Mr. Prabhakar Kumar was appointed as the Interim Resolution Professional, later confirmed as the Resolution Professional by the CoC.

## Facts

Kisten Realtech Private Limited filed an application to initiate CIRP against Aerens Jai Realty Private Limited.

The Adjudicating Authority admitted the application on 30.05.2023 and appointed Mr. Prabhakar Kumar as the Interim Resolution Professional.

Mr. Prabhakar Kumar was later confirmed as the Resolution Professional by the CoC.

The CoC rejected resolutions to invite Expressions of Interest (EOI) from prospective Resolution Applicants.

The CoC approved a 90-day extension for the completion of the CIRP period.

The Applicant/resolution Professional re-published Form-G on 21.02.2024 in the English edition of the Financial Express and the Hindi edition of Jansatta.

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## Issues and analysis

### Issue 1: Whether the application for liquidation of the Corporate Debtor should be allowed under Section …

**Ratio:** Section 33(2) of the IBC allows for liquidation

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**Reasoning:** The CoC has approved the liquidation with 100% voting share, and there is no confirmed

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**Interpretation:** The requirements of

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**Application:** The application for

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## Parties

- **Judges:** BACHU VENKAT…; ATUL CHAT…
- **Appellants:** M/s. Kisten…; Prabhakar…
- **Respondents:** M/s. Aerens Jai…; Anil…
- **Other parties:** Reetesh A…
- **Advocates:** Ishwar Moh…; Rohan Agg…; +1 more

## Timeline

- **30.05.2023 — Admission…**: The Adjudicating Authority admitted the application and declared a moratorium and…
- **04.06.2023 — Public Annou…**: The liquidator has made a public announcement in Form-A as per the CIRP regulations on…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 33(2) — Initiation of liquidation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-33)

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