# Consortium of Wafi Investments Ltd. And Suhail Sameer vs. Vishal Jain, Resolution Professional of Green Soul Ergonomics Pvt. Ltd. & Ors.

> NCLAT judgment dated 23 Apr 2026. Citation: TCN-2026-NCLAT-00140. Green Soul Ergonomics Pvt. Ltd. (Corporate Debtor) was admitted into Corporate Insolvency…

- **Court:** NCLAT
- **Order date:** 23 Apr 2026
- **Citation:** TCN-2026-NCLAT-00140
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/consortium-of-wafi-investments-ltd-and-suhail-sameer-vs-vishal-jain-resolution-p-251e4192

## Summary

### Background

Green Soul Ergonomics Pvt. Ltd. (Corporate Debtor) was admitted into Corporate Insolvency Resolution Process (CIRP) on 01.05.2024, with Mr. Vishal Jain appointed as the Resolution Professional (RP). A consortium consisting of Wafi Investments Ltd. and Mr. Suhail Sameer submitted a resolution plan. This plan, along with two addendums, was initially approved by the Committee of Creditors (CoC) on 11.11.2024. Subsequently, the consortium sought to induct OTP Venture Funds Scheme I as an additional member, leading to a revised consortium agreement and changes in shareholding. The CoC approved this reconstitution on 04.12.2024 and re-approved the modified resolution plan on 09.12.2024. The RP then filed an application with the Adjudicating Authority for approval of the

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## Facts

Green Soul Ergonomics Pvt. Ltd. (Corporate Debtor) was admitted into Corporate Insolvency Resolution Process (CIRP) vide order dated 01.05.2024.

Mr. Vishal Jain was appointed as Interim Resolution Professional (IRP) and subsequently confirmed as Resolution Professional (RP).

On 09.06.2024, the RP issued 'Form-G' inviting Expression of Interest (EoI).

A consortium of Wafi Investments Ltd. (60% shareholding) and Mr. Suhail Sameer (40% shareholding) submitted an EOI and a resolution plan dated 16.09.2024.

On 11.11.2024, at the 10th CoC Meeting, the resolution plan with the first Addendum (submitted 03.10.2024) and second Addendum (submitted 07.11.2024) was approved by the CoC with 95.44% voting share.

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## Issues and analysis

### Issue 1: Whether, after the approval of a resolution plan by the Committee of Creditors (CoC), the …

**Ratio:** A resolution plan, once approved by the Committee of Creditors (CoC), cannot be

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**Reasoning:** The Adjudicating Authority and NCLAT found that the re-approved resolution plan,

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**Interpretation:** The court interpreted Section 30(2)(e) and (f) of the IBC to mandate that a

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**Application:** In the present case, the original resolution plan was approved on 11.11.2024.

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Consortium of…; Suhail S…
- **Respondents:** Green Soul…; Vishal…
- **Other parties:** Resolutio…; Consor…; +7 more

## Timeline

- **2024-05-01 — Corporate Debtor…**: Green Soul Ergonomics Pvt. Ltd. was admitted into Corporate Insolvency Resolution Process…
- **2024-06-09 — RP issued '…**: The Resolution Professional issued 'Form-G'…

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