# Amba Grains Pvt. Ltd. & Ors., Anil Khurana, Krishan Mohan Mendiratta vs. Amit Agrawal Resolution Professional of Mastana Foods Pvt. Ltd. & Ors.

> NCLAT judgment dated 2026-10-12. Citation: TCN-2026-NCLAT-00303. Multiple appeals were filed before the National Company Law Appellate Tribunal (NCLAT)…

- **Court:** NCLAT
- **Order date:** 12 Oct 2026
- **Citation:** TCN-2026-NCLAT-00303
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/amba-grains-pvt-ltd-ors-vs-amit-agrawal-resolution-prof-6cw52

## Summary

### Background

Multiple appeals were filed before the National Company Law Appellate Tribunal (NCLAT) challenging orders passed by the National Company Law Tribunal (NCLT) that approved a resolution plan for Mastana Foods Pvt. Ltd. (Corporate Debtor). The Corporate Insolvency Resolution Process (CIRP) was initiated by the State Bank of India (SBI), the sole financial creditor. An e-bidding process was conducted, and the resolution plan submitted by the consortium of M/s. HR Commercials Private Limited & M/s. Crown Steels (Successful Resolution Applicant - SRA) was approved by the Committee of Creditors (CoC) with 100% voting share. The appellants, including Amba Grains Pvt. Ltd., Anil Khurana (suspended director and personal guarantor), and Krishan Mohan Mendiratta (prospective

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## Facts

Multiple appeals (CA (AT) (Ins) No. 1114, 1118, 1169, 1194, 1198 of 2026) were filed and are being disposed of by a common judgment due to identical issues.

Mastana Foods Pvt. Ltd. (Corporate Debtor - CD) was admitted into Corporate Insolvency Resolution Process (CIRP) on 18.09.2019.

The CIRP was initiated by the State Bank of India (SBI) under Section 7 of the IBC, and SBI constituted the 100% Committee of Creditors (CoC).

Mr. Ashok Kumar Juneja was initially appointed as Interim Resolution Professional (IRP) and later confirmed as Resolution Professional (RP).

Public announcement for claims was made on 21.09.2019, with the last date for submission being 03.10.2019.

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## Issues and analysis

### Issue 1: Whether there were material irregularities by the RP and CoC in the plan approval process, …

**Ratio:** The RP is required to present all resolution plans, including non-compliant ones, to the

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**Reasoning:** The NCLAT noted that an IBBI notification dated 26.05.2025 (w.e.f. 26.05.2025) and a

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**Interpretation:** Regulation 39(2) of the CIRP Regulations, as amended, mandates RPs to submit

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**Application:** The RP's action of placing the SRA's plan before the CoC, even if it initially

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## Parties

- **Judges:** Mohammad Faiz…; Naresh Sa…
- **Appellants:** Amba Grains Pvt.…; Anil Kh…; +2 more
- **Respondents:** Mastana Foods…; Amit Agrawal…
- **Other parties:** State Bank of…; Ashok Kumar…; +2 more
- **Advocates:** Abhijeet Sinha,…; Anannya…; +22 more

## Timeline

- **2019-09-18 — CIRP Admi…**: Mastana Foods Pvt. Ltd. (Corporate Debtor) was admitted into Corporate Insolvency…
- **2019-09-21 — Public Announcement for…**: The Interim Resolution Professional (IRP) made a public announcement calling upon…

## 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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