This appeal arises from an order dated 27.02.2026 by the Adjudicating Authority (National Company Law Tribunal, New Delhi, Court No. III) in I.A. No. 1817 of 2023 in C.P. (IB) No. 1083 of 2018. The NCLT remanded the resolution plan submitted by M/s Art Construction Pvt. Ltd. (Appellant-SRA), which had been approved by the Committee of Creditors (CoC) with an 82.66% vote-share, back to the CoC for reconsideration. The Corporate Debtor, M/s Adel Landmarks Ltd., was admitted into CIRP on 05.12.2018. The Adjudicating Authority's remand was based on five specific grounds related to the treatment of certain assets and claims.
The Corporate Debtor, M/s Adel Landmarks Ltd., was admitted into Corporate Insolvency Resolution Process (CIRP) on 05.12.2018.
The resolution plan submitted by the Appellant-Successful Resolution Applicant (SRA), M/s Art Construction Pvt. Ltd., was approved by the Committee of Creditors (CoC) with an 82.66% vote-share on 15.09.2022.
The Resolution Professional (RP) subsequently filed IA No. 1817 of 2023 before the Adjudicating Authority seeking approval of the resolution plan.
On 27.02.2026, the Adjudicating Authority dismissed IA No. 1817 of 2023 and remanded the resolution plan back to the CoC for reconsideration based on five grounds.
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The Corporate Debtor, M/s Adel Landmarks Ltd.,…
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This appeal arises from an order dated 27.02.2026 by the Adjudicating Authority (National Company Law Tribunal, New Delhi, Court No. III) in I.A. No. 1817 of 2023 in C.P. (IB) No. 1083 of 2018. The NCLT remanded the resolution plan submitted by M/s Art Construction Pvt. Ltd. (Appellant-SRA), which had been approved by the Committee of Creditors (CoC) with an 82.66% vote-share, back to the CoC for reconsideration. The Corporate Debtor, M/s Adel Landmarks Ltd., was admitted into CIRP on 05.12.2018. The Adjudicating Authority's remand was based on five specific grounds related to the treatment of certain assets and claims.
The Corporate Debtor, M/s Adel Landmarks Ltd., was admitted into Corporate Insolvency Resolution Process (CIRP) on 05.12.2018.
The resolution plan submitted by the Appellant-Successful Resolution Applicant (SRA), M/s Art Construction Pvt. Ltd., was approved by the Committee of Creditors (CoC) with an 82.66% vote-share on 15.09.2022.
The Resolution Professional (RP) subsequently filed IA No. 1817 of 2023 before the Adjudicating Authority seeking approval of the resolution plan.
On 27.02.2026, the Adjudicating Authority dismissed IA No. 1817 of 2023 and remanded the resolution plan back to the CoC for reconsideration based on five grounds.
…The Corporate Debtor, M/s Adel Landmarks Ltd.,…
The Appellant-Successful Resolution Applicant…
Sign in to view related legal provisions.