# Approval of Resolution Plan - Flamingo Landbase Pvt. Ltd.

> NCLT judgment dated 2020-02-14. Citation: TCN-2020-NCLT-01957. The case involves an application under Section 30(6) of the Insolvency and Bankruptcy Code…

- **Court:** NCLT
- **Order date:** 14 Feb 2020
- **Citation:** TCN-2020-NCLT-01957
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/approval-of-resolution-plan-flamingo-landbase-pvt-ltd-4a0addb7

## Summary

### Background

The case involves an application under Section 30(6) of the Insolvency and Bankruptcy Code (IBC), 2016, regarding a resolution plan. The application is related to IA No. 68/JPR/2020 in CP No. (IB)-45/9/JPR/2019 before the National Company Law Tribunal (NCLT), Jaipur. The resolution plan was approved by the Committee of Creditors under Section 30(4) of the IBC.

## Facts

M/s Rajputana Constructions Pvt. Ltd. filed a petition against M/s Flamingo Landbase Pvt. Ltd. under Section 9 of the IBC, 2016. The Resolution Professional submitted an application under Section 30(6) of the IBC, 2016, regarding a resolution plan that had been approved by the Committee of Creditors under Section 30(4) of the IBC. The court considered whether the resolution plan met the requirements under Section 30(2) of the IBC, which would make it binding on the Corporate Debtor and its stakeholders. The relevance of these facts lies in determining the validity and enforceability of the resolution plan under the IBC framework.

## Issues and analysis

### Issue 1: Whether the resolution plan, as approved by the Committee of Creditors, meets the requirements …

**Ratio:** A resolution plan approved by the Committee of Creditors under Section 30(4) of the IBC

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**Reasoning:** The court's reasoning is based on the statutory requirements of Section 30 of the IBC,

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**Interpretation:** Section 30(2) of the IBC sets out the criteria that a resolution plan must

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**Application:** In this case, the court applied the ratio by examining whether the resolution

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## Parties

- **Judges:** SH. P.S.N.…; SH. RAGHU…
- **Appellants:** M/s Rajputana…
- **Respondents:** M/s Flamingo…

## Timeline

- **2020-02-14 — Order Del…**: Order delivered on the application…
- **2020-02-27 — IA/39/JPR/2020…**: IA/39/JPR/2020 will be…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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