# In the matter of Vijay Kant Dixit and Anr. vs. Amrapali Fincap Ltd. and Ors.

> NCLAT judgment dated 2025-11-07. Citation: TCN-2025-NCLAT-00565. The appeals arise from an order dated 22.07.2025 passed by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 7 Nov 2025
- **Citation:** TCN-2025-NCLAT-00565
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/vijay-kant-dixit-and-anr-vs-amrapali-fincap-ltd-and-ors-95fb67e3

## Summary

### Background

The appeals arise from an order dated 22.07.2025 passed by the Adjudicating Authority (National Company Law Tribunal) New Delhi, Court-IV, concerning IA No.6035 of 2024, IA No.1301 of 2025, and IA No.850 of 2022 in CP (IB) No.256/ND/2019. The corporate debtor, J.C. World Hospitality Pvt. Ltd., an MSME, was admitted into CIRP on 13.12.2019 following an application by financial creditors in class under Section 7. The Resolution Professional invited claims, with homebuyers constituting 100% of the CoC. A resolution plan was submitted by Dr. Vijay Kant Dixit & Anr., promoters of the Corporate Debtor, and Amrapali Fincap Limited.

## Facts

The Corporate Debtor, J.C. World Hospitality Pvt. Ltd., is an MSME engaged in developing Real Estate.

The Corporate Debtor was admitted into CIRP on 13.12.2019 based on an application filed by the Financial Creditors in Class under Section 7.

Homebuyers constitute 100% of the Committee of Creditors (CoC).

Five Resolution Plans were put to vote on 21.10.2021, but none received the requisite votes.

The Resolution Professional re-voted only on the plan of Amrapali Fincap Limited, which was challenged by the promoters.

The Adjudicating Authority directed all Resolution Plans to be put for re-voting.

The Resolution Plan of the promoters received 44.01% 'yes' votes, while Amrapali Fincap Ltd.'s plan received 43.27% 'yes' votes.

…

## Issues and analysis

### Issue 1: Whether the Resolution Plan of the SRA/ Amrapali Fincap Ltd. did not receive requisite vote shares …

**Ratio:** Section 30, sub-section (4) of the IBC requires approval of the Resolution Plan by a vote

…

**Reasoning:** The CoC consisted of 100% Financial Creditors in class, i.e., 286 commercial space

…

**Interpretation:** The Hon'ble Supreme Court in the above judgment has clearly held that if a

…

**Application:** The Plan stood approved with 100% vote share. We, thus, do not find any

…

## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Vijay Kant Dixit…; Amrapali Fincap…; +4 more
- **Respondents:** Amrapali Fincap…; Krit Narayan…; +2 more
- **Other parties:** Homebu…; Rita D…; +2 more
- **Advocates:** Krishnendu…; Abhijeet…; +14 more

## Timeline

- **2019-12-13 — Admission t…**: Corporate Debtor admitted to Corporate…
- **2021-10-21 — Voting on Resolution…**: Five Resolution Plans were put to vote, but…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/vijay-kant-dixit-and-anr-vs-amrapali-fincap-ltd-and-ors-95fb67e3