# Approval of Resolution Plan - Surana Meta Cast (India) Private Limited

> NCLT judgment dated 2025-10-17. Citation: TCN-2025-NCLT-01602. The case involves an application filed by the Resolution Professional (RP) seeking approval of…

- **Court:** NCLT
- **Order date:** 17 Oct 2025
- **Citation:** TCN-2025-NCLT-01602
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/approval-of-resolution-plan-surana-meta-cast-india-private-limited-f32c1fa2

## Summary

### Background

The case involves an application filed by the Resolution Professional (RP) seeking approval of the resolution plan of M/s Maruti Inox (India) Pvt Ltd, which was approved by the Committee of Creditors (COC) with 100% voting in its 13th meeting.

## Facts

The application was filed by the RP on 17.04.2025 seeking approval of the resolution plan.

The resolution plan of M/s Maruti Inox (India) Pvt Ltd was approved by the COC with 100% voting.

The suspended management of the CD filed objections to the resolution plan.

The suspended management alleged that Maruti Inox was a defaulter to the CD and had raised fraudulent documents.

The State Government representing Sales Tax filed an affidavit confirming that the resolution plan accords 'Secured Creditor' status to their claim.

The COC decided to extend the period of CIRP.

The RP informed the COC that a claim from Assistant Commissioner of State Tax was admitted as a Secured Creditor in accordance with the Rainbow Paper judgment.

## Issues and analysis

### Issue 1: Whether the resolution plan submitted by M/s …

**Ratio:** The plan complies with Sec 30(2) of the IBC 2016 and is fit to be accorded its approval

…

**Reasoning:** The COC has given its approval to the resolution plan, and the other creditors

…

**Interpretation:** The tribunal interprets that the resolution plan meets the requirements of the

…

**Application:** The tribunal applied Sec 30(2) and Sec 31(1) of the IBC 2016 to approve the

…

## Parties

- **Judges:** Chitra Ha…; Velamur G Venkata…
- **Appellants:** Ramchandra…
- **Respondents:** Surana Meta Cast…
- **Other parties:** SBI…; Arpan Maheshkumar…; +1 more
- **Advocates:** Atul Sh…; Nilesh P Ud…; +2 more

## Timeline

- **2024-08-05 — Admission of Ap…**: Application filed by M/s Jindal Nickel and Alloys Ltd against the Corporate Debtor was…
- **2024-08-07 — Form A I…**: Mr Arpan Maheshkumar…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 30 — Submission of resolution plan](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-30)

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