# In the matter of Vinay Goel And Consortium Members Vs Nibula Print and Pack Pvt Ltd Thru Its Liquidator Shiv Nandan Sharma

> NCLAT judgment dated 2024-05-24. Citation: TCN-2024-NCLAT-00410. The case involves an appeal against an order by the Adjudicating Authority that rejected a…

- **Court:** NCLAT
- **Order date:** 24 May 2024
- **Citation:** TCN-2024-NCLAT-00410
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/vinay-goel-and-consortium-members-vs-nibula-print-and-pack-pvt-ltd-thru-its-liqu-93df576a

## Summary

### Background

The case involves an appeal against an order by the Adjudicating Authority that rejected a resolution plan. The rejection was based on the ground that the payout to a dissenting financial creditor was not in accordance with the IBC Code. The appellant's counsel argues that the Adjudicating Authority erred in rejecting the resolution plan.

## Facts

The Adjudicating Authority rejected a resolution plan because the payout to a dissenting financial creditor was not in accordance with the IBC Code. The appellant, Vinay Goel And Consortium Members, filed an appeal against this rejection. The respondent, Nibula Print and Pack Pvt. Ltd. & Ors., argues that the plan provides payment to the dissenting financial creditor on the security interest, but this has not been accepted by the Adjudicating Authority. The court has issued a notice for replies and rejoinders and has listed the appeal for further hearing.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority was correct in rejecting the resolution plan based on the payout …

**Ratio:** The ratio is based on the interpretation and application of the IBC Code regarding the

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**Reasoning:** The court will need to examine the specific provisions of the resolution plan and compare

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**Interpretation:** The interpretation involves understanding the IBC Code's provisions related to

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**Application:** The application involves applying the IBC Code's principles to the specific

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## Parties

- **Judges:** Ashok Bh…; Barun M…; +1 more
- **Appellants:** Vinay Goel and…
- **Respondents:** Nibula Print &…

## Timeline

- **2024-05-24 — Hearing…**: Learned counsel for the appellant submits that the Adjudicating Authority rejected the…
- **2024-07-18 — Next Hearin…**: The case is listed for…

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