# In the matter of STAR LINE LEASING LTD

> NCLT judgment dated 2025-06-30. Citation: TCN-2025-NCLT-00852. The application IA(Plan)/48/(AHM)2024 was filed on 18.11.2024 by the Applicant/Resolution…

- **Court:** NCLT
- **Order date:** 30 Jun 2025
- **Citation:** TCN-2025-NCLT-00852
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-ahmedabad/star-line-leasing-ltd-978b1f20

## Summary

### Background

The application IA(Plan)/48/(AHM)2024 was filed on 18.11.2024 by the Applicant/Resolution Professional of M/s. Star Line Leasing Limited under Section 30 r.w. Section 31 of the Insolvency and Bankruptcy Code, 2016 seeking approval of the Resolution Plan.

## Facts

The Financial Creditor, M/s. Zep Infratech Limited, filed a petition on 07.10.2023 under Section 7 of the IBC, 2016, to initiate CIRP against Star Line Leasing Limited.

The Tribunal admitted the Company Petition on 23.11.2023 and appointed the Applicant as Interim Resolution Professional (IRP).

The Applicant invited claims and constituted a Committee of Creditors (CoC) comprising Zep Infratech Limited and Damyanti Ventures.

The CoC approved a resolution plan submitted by Mr. Pratik Bose on 21.03.2024, which was amended on 23.04.2024.

One Operational Creditor, M/s. Avenue Supermarts Limited, filed an application seeking condonation of delay in filing a claim.

The Applicant admitted the claim of M/s. Avenue Supermarts Limited on 21.10.2024.

…

## Issues and analysis

### Issue 1: Whether the resolution plan meets the requirements of Section 30(2) of the IBC, 2016, and …

**Ratio:** The resolution plan must comply with the provisions of Section 30(2) of the IBC, 2016,

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**Reasoning:** The Adjudicating Authority found that the resolution plan failed to meet these

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**Interpretation:** Section 30(2) and Regulations 38 and 39 set out the minimum requirements for a

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**Application:** The Adjudicating Authority applied these provisions to the resolution plan and

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## Parties

- **Judges:** SHAMMI…; SANJEEV S…
- **Appellants:** Sachin Dinkar…
- **Respondents:** Star Line Leasing…
- **Other parties:** Zep Infratech…; Damyanti Ve…; +5 more
- **Advocates:** Jaimin…; Hirva…; +1 more

## Timeline

- **2023-10-07 — Petition…**: The Financial Creditor, M/s. Zep Infratech Limited, filed a petition under Section 7 of…
- **2023-11-23 — Petition Ad…**: The Tribunal admitted the Company Petition and appointed the Applicant as Interim…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 43 — Preferential transactions and relevant time](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-43)

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