# In the matter of Amintha Infrastructure Private Limited I.A. No. 469 of 2020 in C.P. (IB) No. 209-BB-2019

> NCLT judgment dated 2021-03-22. Citation: TCN-2021-NCLT-02629. The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Amintha…

- **Court:** NCLT
- **Order date:** 22 Mar 2021
- **Citation:** TCN-2021-NCLT-02629
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/amintha-infrastructure-private-limited-ia-no-469-of-2020-in-cp-ib-no-209-bb-2019-d6a2f05a

## Summary

### Background

The case involves a Corporate Insolvency Resolution Process (CIRP) initiated against Amintha Infrastructure Private Limited based on a petition filed by Corporation Bank under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was triggered due to the corporate debtor's inability to meet its financial obligations. An Interim Resolution Professional (IRP), Mr. Raghunathan Krishnasamy, was appointed, and a moratorium was imposed. The IRP constituted a Committee of Creditors (CoC) consisting solely of Corporation Bank. The CoC approved the appointment of the IRP as the Resolution Professional (RP). The RP invited Expression of Interest (EOI) for submitting a resolution plan, and after several attempts and extensions, a resolution plan submitted by M/s.

…

## Facts

1. Corporation Bank initiated CIRP against Amintha Infrastructure Private Limited under Section 7 of IBC, 2016.
2. Raghunathan Krishnasamy was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP).
3. The Committee of Creditors (CoC) consisted solely of Corporation Bank, holding 100% voting share.
4. The RP invited Expression of Interest (EOI) for resolution plans, receiving two EOIs initially, but no resolution plan was submitted by the due date.
5. Several extensions were granted for submitting resolution plans, and multiple advertisements were issued.
6. M/s. Seva Industries submitted a resolution plan, which was later revised.
7. The CoC approved the revised resolution plan submitted by M/s. Seva Industries with

…

## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by M/s. Seva Industries meets the requirements of Section …

**Ratio:** Section 31(1) of the IBC stipulates that if the Adjudicating Authority is satisfied that

…

**Reasoning:** The Adjudicating Authority reviewed the Resolution Plan and the compliance certificate

…

**Interpretation:** Section 31(1) mandates the Adjudicating Authority to approve a resolution plan

…

**Application:** In this case, the Adjudicating Authority found that the Resolution Plan

…

## Parties

- **Judges:** Rajeswara Rao…; Ashutosh C…
- **Respondents:** Amintha Infrastruc…

## Timeline

- **2019-08-30 — Admission o…**: The Adjudicating Authority admitted the Company Petition bearing CP (IB) No.28/BB/2019…
- **2019-09-09 — Public Annou…**: The Interim Resolution Professional made a public announcement in Form-A in 'Business…

## 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/nclt-chandigarh/amintha-infrastructure-private-limited-ia-no-469-of-2020-in-cp-ib-no-209-bb-2019-d6a2f05a