# AKB Ventures LLP vs. Manindra Kumar Tiwari Resolution Professional of Paytail Commerce Pvt. Ltd. & Ors.

> NCLAT judgment dated 2026-08-05. Citation: TCN-2026-NCLAT-00246. This appeal challenges an order dated 21.07.2026 passed by the National Company Law Tribunal…

- **Court:** NCLAT
- **Order date:** 5 Aug 2026
- **Citation:** TCN-2026-NCLAT-00246
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/akb-ventures-llp-vs-manindra-kumar-tiwari-resolution-professional-of-paytail-com-tygus

## Summary

### Background

This appeal challenges an order dated 21.07.2026 passed by the National Company Law Tribunal (NCLT) Chandigarh Bench, which rejected the Resolution Plan submitted by AKB Ventures LLP for Paytail Commerce Private Limited. The Resolution Plan had been approved by the Committee of Creditors (CoC) with an 83.97% voting share. The NCLT rejected the plan primarily because AKB Ventures LLP was identified as an unsecured financial creditor falling under the 'related party' category and had issued shares to itself at a very low value.

## Facts

The appeal is filed against an impugned order dated 21.07.2026 passed by the Learned Adjudicating Authority (NCLT Chandigarh Bench) in IA No.4 (CH)/2025.

The Learned Adjudicating Authority rejected the Resolution Plan submitted by the Appellant, AKB Ventures LLP.

The Resolution Plan was approved by the CoC of Paytail Commerce Private Limited with an 83.97% voting share.

The Resolution Plan was rejected on the ground that the Appellant was an unsecured financial creditor falling under the caption 'related party'.

The Appellant had a claim of Rs.11,12,50,000/-.

The Appellant issued shares to itself to the value of Rs.1,10,850/-.

The Learned Adjudicating Authority rejected the issuance of shares as they were issued at a very less value.

…

## Issues and analysis

### Issue 1: Whether the Learned Adjudicating Authority erred in rejecting the Resolution Plan submitted by AKB …

**Reasoning:** The NCLAT has not yet provided a final reasoning on the merits of the NCLT's rejection.

…

## Parties

- **Judges:** Yogesh K…; Ajai Das Me…
- **Appellants:** AKB Ventures LLP…
- **Respondents:** Paytail Commerce…; Manindra Kumar…
- **Other parties:** CoC of Paytail…; Cholamandalam…; +2 more
- **Advocates:** Sumant…; Sarthak Bh…; +8 more

## Timeline

- **2026-07-21 — NCLT Ord…**: Learned Adjudicating Authority (National Company Law Tribunal) Chandigarh Bench…
- **2026-08-05 — NCLAT Or…**: NCLAT issued an order in Company Appeal (AT) (Insolvency) No. 1375 of 2026, directing the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 2(81) — Application](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-2)

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