The appeal was filed by Bank of Baroda, an Assenting Financial Creditor, challenging an order dated 10.10.2025 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, in IA(IBC)/2708(MB)2025 in CP (IB) No.3025/(MB) of 2019. The impugned order allowed IA(IBC)/2708(MB)2025 filed by IDBI Bank Ltd., the Dissenting Financial Creditor of the Corporate Debtor.
The CIRP of Reliance Communications Infrastructure Limited (RCIL) commenced on 26.09.2019.
Reliance Projects & Property Management Services Limited submitted a resolution plan that was considered in the 18th CoC meeting on 05.08.2021.
The resolution plan was approved by 67.97% vote share of the CoC, with Bank of Baroda being one of the approving members.
IDBI Bank, State Bank of India, and other financial institutions dissented the resolution plan.
On 31.08.2021, the Resolution Professional filed an application IA No.2429 of 2021 under Section 30(6) of the I&B Code for approval of the resolution plan.
Bank of Baroda filed IA No.127 of 2022 on 02.01.2022, seeking direction to the CoC to convene a meeting for reallocation of distribution of proceeds.
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The CIRP of Reliance…
The resolution…
The appeal was filed by Bank of Baroda, an Assenting Financial Creditor, challenging an order dated 10.10.2025 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, in IA(IBC)/2708(MB)2025 in CP (IB) No.3025/(MB) of 2019. The impugned order allowed IA(IBC)/2708(MB)2025 filed by IDBI Bank Ltd., the Dissenting Financial Creditor of the Corporate Debtor.
The CIRP of Reliance Communications Infrastructure Limited (RCIL) commenced on 26.09.2019.
Reliance Projects & Property Management Services Limited submitted a resolution plan that was considered in the 18th CoC meeting on 05.08.2021.
The resolution plan was approved by 67.97% vote share of the CoC, with Bank of Baroda being one of the approving members.
IDBI Bank, State Bank of India, and other financial institutions dissented the resolution plan.
On 31.08.2021, the Resolution Professional filed an application IA No.2429 of 2021 under Section 30(6) of the I&B Code for approval of the resolution plan.
Bank of Baroda filed IA No.127 of 2022 on 02.01.2022, seeking direction to the CoC to convene a meeting for reallocation of distribution of proceeds.
…The CIRP of Reliance…
The resolution…