20th November, 2025 Approval of Resolution Plan - Nayati Healthcare & Research Private Limited [IA (IBC) (PLAN) No. 3 of 2025 in CP(IB) No. 147/Chd/Hry/2018] (1.44 MB)
THE NATIONAL COMPANY LAW TRIBUNAL
CHANDIGARH BENCH, COURT-I, CHANDIGARH
(Exercising powers of Adjudicating Authority under
the Insolvency and Bankruptcy Code, 2016)
IA (IBC) (PLAN) No. 3 of 2025
in
CP(IB) No. 147/Chd/Hry/2018
Under Sections 30(6) and 31 of the Insolvency
and Bankruptcy Code, 2016, read with
Regulation 39 of IBBI Regulations, 2016
In the matter of :
Mistcold Sales and Services Private Limited …Petitioner/Operational Creditor
Vs
M/S Nayati Healthcare and Research Private Limited
...Respondent/ Corporate Creditor
And in the matter of IA (IBC) (PLAN) No.3 /2025:
Vikram Bajaj
Resolution Professional of:
M/S. Nayati Healthcare and Research Private Limited
Registered Office at:
214, Tower A, Spazedge,
Sector 47 , Gurgaon,
Haryana - 122018 ...Applicant
Order delivered on : 18.11.2025
Coram: HON’BLE MR.KHETRABASI BISWAL, MEMBER (JUDICIAL) HON’BLE SH. SHISHIR AGARWAL, MEMBER (TECHNICAL)
Present :-
For the Resolution Professional:
Mr. Abhishek Anand, Advocate Mr. Karan Kohli, Advocate Mr. Vikram Bajaj, RP in Person
IA (IBC) (PLAN) No. 3/2025
In
CP(IB) No.147/Chd/Hry/2018 (Admitted)
For the SRA
(Online)
Vatsala Rai, Advocate
Raghav Kapoor, Advocate
PER: SH.KHETRABASI BISWAL, MEMBER (JUDICIAL) SH. SHISHIR AGARWAL, MEMBER (TECHNICAL)
ORDER
1. The instant Application bearing IA (IBC) (Plan) No. 3 of 2025 has been filed
on behalf of Mr. Vikram Bajaj (hereinafter referred to as “Applicant/ Resolution
Professional” for M/s. Nayati Healthcare and Research Private Limited
(hereinafter referred to as “Corporate Debtor”) U/s 30(6) & 31 of the Insolvency
and Bankruptcy Code, 2016 (hereinafter referred to as “Code”) for seeking
approval of the Resolution Plan submitted by Successful Resolution Applicant
Anshu Hospital Limited (hereinafter referred to as “SRA”) .
2. The main Company Petition bearing CP(IB)No.147/Chd/Hry/2018 was filed
by Mistcold Sales and Services Private Limited, the Operational Creditor
(hereinafter referred to as the “OC”) against the Corporate Debtor, which was
admitted by this Adjudicating Authority vide order dated 22.12.2023 by
appointing Mr. Arvind Mittal, as Interim Resolution Professional (hereinafter
referred to as “IRP”). Accordingly, as per Regulation 6(1) of Insolvency and
Bankruptcy Board of India (Insolvency Resolution Process of Corporate
Persons), 2016 (hereinafter referred to as “CIRP Regulations”), the IRP made
Public Announcement in FORM-A on 25.12.2023 in newspapers namely
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Financial Express in the region of New Delhi (“English Edition”) and Jansatta
in
the
region
of New Delhi ("Hindi Edition”) intimating about the
commencement of CIRP of Corporate Debtor and for calling upon all the
stakeholders of CD submit their respective claims along with proof with last
date as 05.01.2024.
3. The IRP prepared the list of Creditors as of 13.01.2024 and constituted the
CoC during the CIRP of the Corporate Debtor. Accordingly, the Erstwhile IRP
filed an Application bearing I.A. No. 593 of 2024 placing on record the report
certifying the constitution of CoC, which was allowed by the bench vide order
dated 15.02.2024. The composition of CoC is as under:
Accordingly, the IRP convened 1st CoC meeting on 24.01.2024, wherein the Committee of Creditors has decided to replace the existing IRP Mr. Arvind Mittal with Mr. Vikram Bajaj i.e., Applicant herein as the Resolution Page 3 of 30
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Professional with requisite majority as per law, for which I.A. No. 593 of 2024
was filed for seeking his appointment, which the Tribunal allowed by order
dated 07.03.2024 by appointing Mr. Vikram Bajaj as RP.
4. Thereafter, the Applicant received claims from CISCO System Capital (1) Pvt.
Ltd. and Canara Bank, which were verified and admitted by the Applicant.
Pursuant to the same, the CoC was re-constituted on 22.04.2024 and report
for reconstitution of COC was filed by the Applicant vide IA. No. 1178 of 2024
to place on record the updated list of Creditors as per Section 25(2)(e) of the
Code and reconstituted CoC as per Section 21 of the Code which was taken on
record on 15.05.2024 by the Bench. The revised constitution of the CoC and
percentage of voting share therein is as follows:
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5. The Applicant published FORM G dated 16.05.2024 inviting EOI from PRAs
with last date as 31.05.2024 and the last date for submission of Resolution
Plan was stipulated as 30.07.2024. During the course of the CIRP, the
Committee of Creditors (CoC) in its 5th, 7th, and 8th meetings approved
extensions of time for submission and revision of Resolution Plans to ensure
wider participation of prospective resolution applicants. In the 5th CoC meeting
held on 03.06.2024, the CoC approved an extension of the CIRP timeline.
Further, in the 7th meeting dated 16.08.2024, an additional extension for
submission of revised Resolution Plans was granted. Subsequently, in the 8th
CoC meeting held on 18.09.2024, the CoC approved a further extension up to
03.10.2024 and resolved to exclude the period relating to adjudication of I.A.
No. 1521 of 2024. These extensions were granted to facilitate effective
participation of PRAs and ensure proper consideration of viable Resolution
Plans. A series of CoC meetings were duly convened by the Resolution
Professional during the CIRP period to deliberate upon Resolution Plans
received, valuation reports, and procedural matters including condonation of
delay and extension of the CIRP period.
6. The revised Resolution Plan submitted by Resolution Applicant was placed
before the CoC in the 14th CoC meeting for e-voting on 03.03.2025. The CoC
approved the Resolution Plan under Resolution 2A with 72.73% votes in favour,
thereby approving the Resolution Plan submitted by Anshu Hospital Limited
and accordingly the following resolution was passed through e-voting:-
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“Resolved That the committee of creditors of Nayati Research & Healthcare P Ltd., be
and hereby approves the resolution plan of Anshu Hospitals Lid. under Section 30(4)
of IBC, 2016 and hereby authorises the Resolution Professional to issue Letter of
Intent to the resolution applicant Anshu Hospitals Lid. and seek submission of
performance security. The Resolution Professional is further authorised to make an
application under Section 30(6) of IBC, 2016 for approval of resolution plan by the
Hon’ble Adjudicating Authority under Section 31 of IBC, 2016 upon submission of
performance security.
The Resolution Professional is further authorised to pray Hon’ble Adjudicating
Authority for exclusion of additional time taken after 27- 2-2025 till filling of
application for approval of resolution plan with Hon'ble Adjudicating Authority on
account of time taken by COC for completion of voting on the Resolution Plan”
7. The salient features of the Resolution Plan as approved by COC are as follows:
i.
Brief background of the SRA: The SRA was incorporated on
27.06.1997 and at present it owns and operates 3 hospitals and
multiple health care facilities/clinics. It has set new benchmarks in
super-specialty with path- breaking work over the past 32 years and
is recognized as one of the top healthcare institutions of Faridabad
and Delhi-NCR.
ii.
Financial Strength of Resolution Applicant: The Resolution
Applicant, Anshu Hospitals Limited, has demonstrated strong
financial capacity through its audited statements for FY 2020–21 to
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FY 2023–24. The total assets have increased from Rs. 2,63,41,33,372/- to Rs. 5,67,23,04,445/-, reflecting consistent growth. The company has reported continuous profitability, with total income of Rs. 5,09,43,40,743/- and profit after tax of Rs. 12,95,43,185/- for FY 2023–24. The financials indicate adequate net worth, liquidity, and stability to effectively implement the Resolution Plan. iii. The Financial Outlay and Implementation Schedule, as proposed under the Resolution Plan is mentioned in Chapter-4 and Chapter-8 of the Resolution Plan. Copy of the Resolution Plan dated 20.02.2025 (Resolution Plan dated 11.02.2025 as modified and received on 20.02.2025) submitted by Anshu Hospital Limited duly approved by the CoC in the 14% CoC meeting dated 27.02.2025 is annexed with the Application as ANNEXURE A-21. iv. Management of the Corporate Debtor: On the NCLT Approval Date, the existing board of directors of the Corporate Debtor shall stand dissolved and the existing directors office shall stand vacated without any further step/action. The Monitoring Committee comprising of (a) 3 (three) representatives nominated by the Resolution Applicant; (b) 3 (three) representatives nominated by the Financial Creditors approving the Resolution Plan and (c) Mr. Vikram Bajaj subject to prior consent in writing of the Resolution Applicant, and in case of Page 7 of 30
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Resolution Applicant not consenting to it, another Expert shall be
inducted. The Resolution Plan shall be implemented by the Resolution
Applicant and the Monitoring Committee shall extend cooperation to
the Resolution Applicant on best effort basis. The Successful
Resolution Applicant shall bear the expenses in respect of the
Monitoring Committee and pay a fee of Rs. 2,00,000/- (Indian Rupees
Two Lakhs) per month to the Resolution Professional till the
dissolution of the Monitoring Committee.
v.
Source of Funds: The Resolution Consideration Amount of Rs. 120
crores are being offered by the Resolution Applicant for the resolution
of the Corporate Debtor and the break-up of the Resolution
Consideration Amount is as under:
(a) Rs. 100 crores will be infused into the Corporate Debtor in the
form of equity (or instruments convertible into equity) or debt and will
be used to repay the liability of Corporate Debtor, in the manner set
out in Clause 4.3.2 of this Resolution Plan; and
(b) Rs. 20 crores will be paid towards assignment of the sustainable
debt (as set out in this Resolution Plan) along with the personal
guarantees of Ms. Nira Radia, Satish Kumar Narula, Karuna Menon
(“Promoters of the Corporate Debtor”) and the land owner(s) and the
collaterals provided by the guarantors for the entire debt of the
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Secured Financial Creditors. This, along with the assignment of
Encumbrances over the Land Parcels are important to seek the
support of the Promoters of the Corporate Debtor and the Land Owner
without which this Resolution Plan cannot be implemented. The
Resolution Applicant, however, reserves the right to recover the
amount paid i.e., Rs. 20,00,00,000/- (Indian Rupees Twenty Crores
only)) from the Promoters of the Corporate Debtor and the land
owners in future. In addition, it may be noted that appropriate filings
for Modification of charges in favour of the Resolution Applicant or
any other entity/bank/financial institution nominated by the
Resolution Applicant would also need to be undertaken.
vi.
Compliance of mandatory contents of Resolution Plan under IBC
and CIRP Regulations: The Applicant is stated to have conducted a
thorough compliance check of the Resolution Plan in terms of Section
30(2)(a), (b) & (c) of IBC as well as Regulations 38 & 39 of the CIRP
Regulations, and has submitted Form-H under Regulation 39(4). The
Resolution Applicant has filed an Affidavit pursuant to Section 30(1)
of IBC confirming that they are eligible to submit the Plan under
Section 29A of IBC and that the contents of the said Certificate are in
order. The Fair Value and Liquidation Value as submitted in Form
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H are stated to be Rs. 124.58 crore and Rs. 90.46 crore
respectively.
vii.
CIRP Costs: Payments in relation to the CIRP Costs upto the NCLT
Approval Date shall be made in full and in priority to any other
Creditor of the Corporate Debtor from the Resolution Consideration
Amount. Once such payments have been made on the instructions of
the Resolution Applicant, it shall be deemed to be a complete
discharge of all liabilities, Claims and debt of the Resolution Applicant
and the Corporate Debtor in relation to the CIRP Costs. The CIRP
costs on actuals will be paid within 60 days from approval of the
Resolution Plan by the Tribunal.
viii.
Reliefs & Concessions: Besides seeking approval of the Resolution
Plan submitted by the SRA, the Applicant has also prayed in Chapter-
IX of the Resolution Plan for the grant of reliefs, waivers, and
concessions to the Resolution Applicant.
8. The Resolution Applicant has stated in its Resolution Plan that any amount
realized on account of the PUFE Application in pursuant to Sections 43, 45,
49, 50 and 66 of the Code filed with this Adjudicating Authority shall be
deemed to have been received for the benefit of the Financial Creditors and
shall be pursued by the Financial Creditors at their own cost. To the extent,
the Applicant/ Resolution Professional is undertaking such proceedings for
which the Applicant shall be entitled to use the corpus of the Corporate Debtor.
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Further the Resolution Plan provides for a RP Corpus of Rs. 25 lakhs over and
above the Resolution Plan consideration of Rs. 120 crores for meeting any legal
expenses. The Applicant has filed an Application u/s 66 of the Code on
02.04.2025 vide filing number 0404116/ 00895/ 2025 seeking contribution of
Rs. 2,02,91,478.57/- to the Corporate Debtor.
9. Pursuant to approval of the Resolution Plan by the CoC, the Applicant issued a
Letter of Intent dated 28.03.2025 to the Resolution Applicant and the
Resolution Applicant was requested to convey his unconditional acceptance
thereto. The Resolution Applicant was advised that the amount of Rs. 10 Crore
furnished as EMD along with Resolution Plan has been retained as part of
performance security and further performance security of Rs. 15 Crore has to
be provided. The Resolution Applicant conveyed his unconditional acceptance
through email on 29.03.2025 and further submitted a duly accepted copy of
Letter of Intent vide email dated 31.03.2025. In compliance with Regulation
39(4A) of CIRP Regulations and terms of RFRP, the Resolution Applicant has
furnished total Performance Security of Rs. 25 Crore, comprising deposit of Rs.
10 crore EMD submitted along with Resolution Plan and the Performance Bank
Guarantee of Rs. 15,00,00,000/- (Rupees Fifteen Crores Only) on 04.04.2025.
10.
In compliance with Regulation 39(4) of the CIRP Regulations 2016, the
Applicant/RP has filed "Compliance Certificate” in Form-H stating that the
Resolution Plan is compliant with the provisions of the Code.
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11.
The affidavit dated 13.08.2025 as Annexure C-3 has been filed by the SRA
with respect to PF and gratuity dues stating to pay full amount of EPFO and PF
dues.
12.
We have heard Mr. Abhishek Anand with Karan Kohli, the learned Counsels
for the Applicant and Vikram Bajaj (RP) appearing online. We have also
carefully perused various contentions raised in the Application along with
extant provisions of Code and the Rules made thereunder along with the
settled position of law.
13.
Firstly, we will refer to the cardinal provisions of the Code with reference to
submission and approval of the resolution plan. In this regard, provision of
Section 30 of Code deals with the issue of submission of resolution plan and
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that of section 31 deals with approval of Resolution plan. Provisions of section
30 inter-alia stipulates that:
(1)A resolution applicant may submit a resolution plan along with an
affidavit stating that he is eligible under section 29A to the resolution
professional prepared on the basis of the information memorandum.
(2) The resolution professional shall examine each resolution plan received
by him to confirm that each resolution plan - (a) provides for the
payment of insolvency resolution process costs in a manner specified by
the Board in priority to the payment of other debts of the corporate
debtor; (b) provides for the payment of debts of operational creditors in
such manner as may be specified by the Board which shall not be less
than- (i) the amount to be paid to such creditors in the event of a
liquidation of the corporate debtor under section 53; or (ii) the amount
that would have been paid to such creditors, if the amount to be
distributed under the resolution plan had been distributed in
accordance with the order of priority in sub-section (1) of section 53,
whichever is higher, and provides for the payment of debts of financial
creditors, who do not vote in favour of the resolution plan, in such
manner as may be specified by the Board, which shall not be less than
the amount to be paid to such creditors in accordance with sub-section
(1) of section 53 in the event of a liquidation of the corporate debtor……
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Provisions of Section 31 of the Code inter-alia stipulate that if the
Adjudicating Authority is satisfied that the resolution plan as approved
by the committee of creditors under sub-section (4) of section 30 meets
the requirements as referred to in sub-section (2) of section 30, it shall
by order approve the resolution plan which shall be binding on the
corporate debtor and its employees, members, creditors, other stake
holders etc, else it can reject the Plan.
14.
While examining the Resolution plan in question, we found that it has duly
followed all the cardinal principles prescribed under the Code. A thorough
compliance check of the Resolution Plan in terms of Section 30(2)(a), (b) & (c) of
the Code as well as Regulations 38 & 39 of the CIRP Regulations has been
conducted and the RP has also submitted the requisite Form-H under
Regulation 39(4). The Resolution Applicant has filed an Affidavit pursuant to
Section 30(1) of the Code confirming that they are eligible to submit the Plan
under Section 29A of the Code and that the contents of the said Certificate are
in order. The Fair Value and Liquidation Value of the Corporate Debtor are Rs.
124.58 crore and Rs. 90.46 crore respectively, which prima facie prove that it
is fair assessment of the property value of Corporate Debtor.
15.
It is relevant to note that Rs. 20 crores will be paid towards assignment of
the sustainable debt (as set out in this Resolution Plan) along with the personal
guarantees of Ms. Nira Radia, Satish Kumar Narula, Karuna Menon
(“Promoters of the Corporate Debtor”) and the land owner(s) and the collaterals
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provided by the guarantors for the entire debt of the Secured Financial
Creditors. This, along with the assignment of Encumbrances over the Land
Parcels are important to seek the support of the Promoters of the Corporate
Debtor and the Land Owner without which this Resolution Plan cannot be
implemented. The Resolution Applicant, however, reserves the right to recover
the amount paid i.e., Rs. 20,00,00,000/- (Indian Rupees Twenty Crores only)
from the Promoters of the Corporate Debtor and the land owners in future
owners. This clause, being an integral part of the Resolution Plan and having
been approved by the requisite majority of the CoC, falls within the
commercial wisdom of the Committee of Creditors. This Adjudicating
Authority finds no violation of the provisions of Section 30(2) of the Code in this
regard.
16.
As stated, the SRA has already furnished total Performance Security of Rs.
25 Crore, comprising deposit of Rs. 10 crore EMD submitted along with
Resolution Plan and the Performance Bank Guarantee to the tune of Rs.
15,00,00,000/- (Rupees Fifteen Crores Only) on 04.04.2025.
17.
The role of the Adjudicating Authority in approving a Resolution Plan has
been settled by Hon’ble Supreme Court (and consistently followed in the later
judgement of various courts) in the case of
K. Sashidhar vs. Indian
Overseas Bank1, where the Hon’ble Supreme Court has inter-alia held that:
1 In K. Sashidhar v. Indian Overseas Bank & Others (in Civil Appeal No. 10673/2018) decided
on 05.02.2019: (2019) 12 SCC 150
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“If CoC had approved the Resolution Plan by the requisite percent of
voting share, then as per Section 30(6) of the Code, it is imperative for
the Resolution Professional to submit the same to the Adjudicating
Authority. On receipt of such a proposal, the Adjudicating Authority
(NCLT) is required to satisfy itself that the resolution plan as
approved by CoC meets the requirements specified in Section 30(2).
No more and no less”.
And held further in para 35 of the judgement that –
“the discretion of the adjudicating authority (NCLT) is circumscribed
by Section 31 limited to scrutiny of the resolution plan “as approved”
by the requisite percent of voting share of financial creditors. Even in
that enquiry, the grounds on which the adjudicating authority can
reject the resolution plan is in reference to matters specified in
Section 30(2), when the resolution plan does not conform to the
stated requirements”.
The Hon’ble Supreme Court reiterated this view in the case of Essar Steel2
by holding that:
“…it is clear that the limited judicial review, which can in no
circumstances trespass upon a business decision of the majority of
the CoC, has to be within the four corners of section 30(2) of the
Code, in so far as the Adjudicating Authority is concerned….”.
2 Committee of Creditors of Essar Steel India Limited Vs. Satish Kumar Gupta & Ors. in Civil
Appeal No.8766 67/2019, decided on 15.11.2019: (2020) 8 SCC 531
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Reinforcing the above, the Hon’ble Supreme Court more recently has held in
Vallal RCK vs. M/s Siva Industries3, that:
“21. This Court has consistently held that the commercial wisdom of
the CoC has been given paramount status without any judicial
intervention for ensuring completion of the stated processes within
the timelines prescribed by the IBC. It has been held that there is an
intrinsic assumption, that financial creditors are fully informed about
the viability of the corporate debtor and feasibility of the proposed
resolution plan. They act on the basis of thorough examination of the
proposed resolution plan and assessment made by their team of
experts.”
Emphasizing yet again, that
“27. This Court has, time and again, emphasized the need for
minimal judicial interference by the NCLAT and NCLT in the
framework of IBC.”
and, by referring to an earlier judgment in the case of Arun Kumar
Jagatramka4, added a note of caution that
“…However, we do take this opportunity to offer a note of caution for
NCLT and NCLAT, functioning as the adjudicating authority and
appellate authority under the IBC respectively, from judicially
interfering in the framework envisaged under the IBC. As we have
noted earlier in the judgment, the IBC was introduced in order to
4 Arun Kumar Jagatramka v. Jindal Steel & Power Ltd. (2021) 7 SCC 474] : (SCC p. 533, para
95)
3 Vallal RCK vs M/s Siva Industries and Holdings Limited & Ors. in Civil Appeal
No.1811-1812/2022, decided on 03.06.2022: (2022) 9 SCC 803
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overhaul the insolvency and bankruptcy regime in India. As such, it
is a carefully considered and well thought out piece of legislation
which sought to shed away the practices of the past. The legislature
has also been working hard to ensure that the efficacy of this
legislation remains robust by constantly amending it based on its
experience. Consequently, the need for judicial intervention or
innovation from NCLT and NCLAT should be kept at its bare
minimum and should not disturb the foundational principles of the
IBC…..”
18.
The above decisions clearly define the role and scope of AA in approving the
Resolution Plan and the facts of the case clearly establish that the instant
Application has been filed duly following the provisions of Section 31 of the
Code making the Resolution plan in question eligible to be approved, and it is
also in conformity with settled position of law as stated supra. Therefore, we
are satisfied that the instant Application deserves to be allowed as prayed for.
19.
It is also to be clarified that approval of the Resolution Plan shall not be
construed as waiver of any statutory obligations/ liabilities of the Corporate
Debtor and shall be dealt with by the appropriate Authorities in accordance
with law. Any waiver sought in the resolution plan, shall be subject to approval
by the Authorities concerned. As regards the reliefs sought, the Corporate
Debtor has to approach the authorities concerned for such reliefs and we trust
the authorities concerned will do the needful. “Approval of this plan by NCLT
shall be deemed to be sufficient notice which may be required to be given to
any person for such matter and no further notice shall be required to be given”
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as per the view taken by the Hon’ble Supreme Court in the case of
Ghanashyam Mishra (2021) 9 SCC 657.
20.
In the result, by exercising the powers conferred on this Adjudicating
Authority, U/s 31 of the Code, we approve the Resolution Plan dated
20.02.2025 (Resolution Plan dated 11.02.2025 as modified and received
on 20.02.2025) having Plan value of Rs. 120 crores submitted by Anshu
Hospital Limited with following consequential directions:
a) The Resolution Plan dated 20.02.2025 having shall be binding on
the Corporate Debtor, its employees, members, creditors,
including the Central Government, any State Government or any
local authority to whom a debt in respect of the payment of dues
arising under any law for the time being in force is due,
guarantors and other stakeholders involved in the resolution
plan.
b) All concerned are directed to strictly adhere to the terms as
mentioned in the Resolution plan without any deviation, except
with leave of this Adjudicating Authority by filing miscellaneous
Application(s) seeking suitable direction(s):
c) The moratorium order passed in this case u/s 14 of the Code
shall cease to have effect from the date of this order.
d) All crystallized liabilities and unclaimed liabilities of the
Corporate Debtor as on the date of this order, except as provided
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in the Resolution Plan, shall stand extinguished on the approval
of this Resolution Plan.
e) The Applicant-RP to pursue pending application filed u/s 66 of
the Code on 02.04.2025 vide filing number 0404116/ 00895/
2025 seeking contribution of Rs. 2,02,91,478.57/- to the
Corporate Debtor.
f) If the SRA fails to pay the amount as envisaged in the Resolution
Plan to the stakeholders within the timeline fixed in the Plan, the
entire amount paid by the SRA shall be forfeited.
g) It is hereby ordered that the Performance Bank Guarantee
furnished by the Resolution Applicant shall remain in force till
the amount proposed to be paid to the creditors under this plan
is fully paid off and the plan is fully implemented.
h) The Memorandum of Association (MoA) and the Articles of
Association (AoA) shall accordingly be amended and filed with the
concerned Registrar of Companies (RoC) for information and
record.
i) The Resolution Applicant, for effective implementation of the
Plan, shall obtain all necessary approvals, under any law for the
time being in force, within such period as may be prescribed.
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j) The Applicant shall forward all records relating to the conduct of
the CIRP and the Resolution Plan to the IBBI along with a copy of
this order for information. The Applicant shall also forward a
copy of this Order to the CoC and the Resolution Applicant.
k) The Registry is also directed to communicate a copy of this Order
to the concerned Registrar of Companies for updating the master
data and also forward a copy to IBBI.
21. With above directions, I.A. (IBC) (PLAN) No. 3 of 2025 with the Plan Value of Rs. 120 crores in main CP(IB) No. 147/Chd/Hry/2018 stands allowed and disposed of.
Sd/- Sd/-
(Shishir Agarwal)
(Khetrabasi Biswal)
Member (Technical)
Member (Judicial)
November 18 , 2025
Sudesh
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