# In the matter of Arvind Gaudana Erstwhile RP Of Vrundavan Ceramic Pvt. Ltd. Vs Committee Of Creditors Of Vrundavan Ceramic Pvt. Ltd. & Ors.

> NCLAT judgment dated 2024-10-18. Citation: TCN-2024-NCLAT-00149. The case involves two appeals filed by the SRA and the Resolution Professional challenging an…

- **Court:** NCLAT
- **Order date:** 18 Oct 2024
- **Citation:** TCN-2024-NCLAT-00149
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/arvind-gaudana-erstwhile-rp-of-vrundavan-ceramic-pvt-ltd-vs-committee-of-credito-739d8e53

## Summary

### Background

The case involves two appeals filed by the SRA and the Resolution Professional challenging an order by the Adjudicating Authority dated 2024-09-27. The Adjudicating Authority rejected a plan approval application and directed liquidation because the resolution process was not completed within the timeline directed by an order dated 2023-11-08. The appellant's counsel argues that the plan was approved by the CoC on 2021-08-03, and an application (IA No.638 of 2021) was filed for plan approval on 2021-08-19. The Adjudicating Authority remanded the matter to the CoC for considering distribution on 2023-11-08. The Resolution Professional completed the process and filed an application on 2024-03-04, which was not listed, leading to a fresh application on 2024-07-05. The

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## Facts

Lorenzo Vitrified Tiles Pvt. Ltd. and Arvind Gaudana Erstwhile RP of Vrundavan Ceramic Pvt. Ltd. filed appeals against the Committee of Creditors of Vrundavan Ceramic Pvt. Ltd. & Ors. The Adjudicating Authority rejected a plan approval application and directed liquidation on 2024-09-27, citing the resolution process not being completed within the timeline directed by the order dated 2023-11-08. The plan was initially approved by the CoC on 2021-08-03, and an application for approval was filed on 2021-08-19. The Adjudicating Authority remanded the matter to the CoC on 2023-11-08. The Resolution Professional filed an application on 2024-03-04, which was not listed, leading to a fresh application on 2024-07-05. The Resolution Professional also filed an affidavit

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in rejecting the plan approval application and directing …

**Ratio:** The Adjudicating Authority has the power to approve or reject a resolution plan based on

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**Reasoning:** The court needs to determine if the Adjudicating Authority acted reasonably in rejecting

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**Interpretation:** This issue involves interpreting the powers and duties of the Adjudicating

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**Application:** The ratio and reasoning will be applied to the specific facts of the case,

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Lorenzo Vitrified…
- **Respondents:** Vrundavan Ceramic…; Committee of…

## Timeline

- **2021-08-03 — Plan Approved…**: The resolution plan was approved by…
- **2021-08-19 — Application Filed for…**: IA No.638 of 2021 was filed for…

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