# In the matter of Mukesh Goel vs. Santanu Brahma & Anr.

> NCLAT judgment dated 2025-08-11. Citation: TCN-2025-NCLAT-00469. The appeal was filed against observations made by the Adjudicating Authority in paragraphs 28…

- **Court:** NCLAT
- **Order date:** 11 Aug 2025
- **Citation:** TCN-2025-NCLAT-00469
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/mukesh-goel-vs-santanu-brahma-anr-12260bdc

## Summary

### Background

The appeal was filed against observations made by the Adjudicating Authority in paragraphs 28 & 39 of an order dated 27.03.2025, which approved the resolution plan submitted by the appellant. The appellant contended that these observations contradicted the approved resolution plan, which contemplated the release of personal and corporate guarantees upon payment of the debt.

## Facts

The appeal was filed against paragraphs 28 & 39 of the impugned order dated 27.03.2025.

The resolution plan submitted by the appellant had been approved.

The resolution plan contemplated the release of personal and corporate guarantees upon payment of the debt.

The Committee of Creditors (CoC) had agreed to release the personal guarantees after receiving payment under the plan.

The observations made in paragraphs 28 & 39 of the impugned order were contrary to the terms of the resolution plan.

## Issues and analysis

### Issue 1: Whether the observations made by the Adjudicating Authority in paragraphs 28 & 39 of the …

**Ratio:** The observations were not in accordance

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**Reasoning:** The resolution plan, approved by 100% CoC, included terms for releasing personal and

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**Interpretation:** The court interpreted the resolution plan as intending to release guarantees

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**Application:** The court applied this interpretation to the facts, noting that the CoC had

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Mukesh…
- **Respondents:** Aanchal Ispat…; Santanu B…
- **Advocates:** Diwakar Mah…; Shreyas Edu…; +2 more

## Timeline

- **2025-03-27 — Impugned Ord…**: Date of the order by the Adjudicating Authority containing the observations challenged in…
- **2024-07-03 — CoC Lette…**: Date of the letter from the Committee of Creditors (CoC) clarifying their position on the…

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