# In the matter of Dr. Aveena Gudapati vs. Krishna Mohan Meenavalli & Ors.

> NCLAT judgment dated 2024-11-20. Citation: TCN-2024-NCLAT-00083. The case involves an appeal against the approval of a Resolution Plan for a Corporate Debtor.…

- **Court:** NCLAT
- **Order date:** 20 Nov 2024
- **Citation:** TCN-2024-NCLAT-00083
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/dr-aveena-gudapati-vs-krishna-mohan-meenavalli-ors-12716be2

## Summary

### Background

The case involves an appeal against the approval of a Resolution Plan for a Corporate Debtor. The Appellant, claiming to be a 3rd party/shareholder, sought to set aside the order admitting the Corporate Debtor into CIRP, arguing that the Section 7 application was filed with malicious intent. The Adjudicating Authority had approved the Resolution Plan, leading to the current appeal.

## Facts

Dr. Aveena Gudapati, claiming to be a 3rd party/shareholder of the 2nd Respondent/Corporate Debtor, filed an application to set aside the order admitting the Corporate Debtor into CIRP, alleging malicious intent in the Section 7 application. The Adjudicating Authority rejected this application and approved the Resolution Plan in IA No.7/2024. The Appellant had previously filed a Company Petition (IB) No.337/7/HDB/2021, which was rejected. The Appellant also filed an appeal challenging the rejection of his Section 7 application, which was dismissed. The Resolution Plan was approved subject to the condition that it does not waive any statutory obligations of the Corporate Debtor. The Appellant contended that the Resolution Plan was approved without dealing with the

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was …

**Ratio:** The Resolution Plan must satisfy the requirements of Section 30(2) of the Insolvency and

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**Reasoning:** The Adjudicating Authority approved the Resolution Plan after determining that it met the

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**Interpretation:** Section 30(2) sets out the criteria for approval of a resolution plan, ensuring

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**Application:** The Adjudicating Authority applied the provisions of Section 30(2) to the

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## Parties

- **Judges:** Sharad Kumar…; Jatindranat…
- **Appellants:** Aveena Gu…
- **Respondents:** String Metaverse…; Krishna Mohan…

## Timeline

- **2022-10-10 — Rejection of Company…**: The Appellant's Company Petition (IB) No.337/7/HDB/2021 was rejected by order dated…
- **2024-05-28 — Impugned…**: The Adjudicating Authority passed the Impugned Order on 28.05.2024, approving the…

## 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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