# In the matter of Aum Strucbuild Pvt. Ltd. IA 350-2019 in CP(IB) 285-2018

> NCLT judgment dated 2019-09-30. Citation: TCN-2019-NCLT-01169. The case pertains to IA 350 of 2019 filed in CP(IB) 285 of 2018 before the Ahmedabad Bench of…

- **Court:** NCLT
- **Order date:** 30 Sept 2019
- **Citation:** TCN-2019-NCLT-01169
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/aum-strucbuild-pvt-ltd-ia-350-2019-in-cpib-285-2018-2d914793

## Summary

### Background

The case pertains to IA 350 of 2019 filed in CP(IB) 285 of 2018 before the Ahmedabad Bench of the National Company Law Tribunal (NCLT). The Resolution Professional, Mr. Pinakin Shah, filed the application under Section 30(6) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking approval of a Resolution Plan for the Corporate Debtor, AUM Structbuild Private Limited. The Resolution Plan was approved by 100% voting of the Committee of Creditors (CoC). The Corporate Debtor was incorporated on 11/05/2010 and is engaged in the execution of Government Contracts in relation to real estate. A public announcement was made on 16/11/2018, inviting claims from creditors. The CoC was constituted on 04/12/2018, and the first meeting was held on 10/12/2018, where the applicant

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## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against AUM Structbuild Private Limited. Mr. Pinakin Shah was appointed as the Resolution Professional (RP). The RP filed IA 350 of 2019 seeking approval of the Resolution Plan under Section 30(6) of the Insolvency and Bankruptcy Code (IBC). The Resolution Plan was approved by 100% of the Committee of Creditors (CoC). The Corporate Debtor was incorporated on 11/05/2010 and is engaged in the execution of Government Contracts in relation to real estate. A public announcement was made on 16/11/2018, inviting claims from creditors. The CoC was constituted on 04/12/2018. Mr. Sanjay Patel, Director of the Corporate Debtor, submitted a Resolution Plan. The RP presented the Resolution Plan before the CoC on

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## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by the Resolution Applicant complies with the requirements of …

**Ratio:** Section 30 of the Insolvency and Bankruptcy Code, 2016, outlines the requirements for a

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**Reasoning:** The Adjudicating Authority considered the documents, papers, and materials submitted and

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**Interpretation:** Section 30 sets the criteria for a valid resolution plan, ensuring it addresses

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

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## Parties

- **Judges:** Harihar Prakash…; Prasanta Kumar…
- **Respondents:** AUM Structbuild…

## Timeline

- **2010-05-11 — Incorporation of…**: AUM Structbuild Private Limited was…
- **2018-11-12 — Moratorium…**: Moratorium order passed by…

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