# In the matter of Bigmoon Buildcon Private Limited I.A. 4881-2020 in Company Petition No. (IB)-572(PB)-2019

> NCLT judgment dated 2021-01-04. Citation: TCN-2021-NCLT-03413. The case pertains to an application filed by the Resolution Professional under Section 30(6) of…

- **Court:** NCLT
- **Order date:** 4 Jan 2021
- **Citation:** TCN-2021-NCLT-03413
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/bigmoon-buildcon-private-limited-ia-4881-2020-in-company-petition-no-ib-572pb-20-9a95aa53

## Summary

### Background

The case pertains to an application filed by the Resolution Professional under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, seeking approval of the Resolution Plan under Section 31 of the Code. The Corporate Insolvency Resolution Process (CIRP) was initiated against Bigmoon Buildcon Private Limited after an application under Section 7 of the Code was preferred by Mr. Dinesh Khetan, a financial creditor. The Company Petition (IB) 572 (PB) / 2019 was admitted on 03.09.2019, imposing a moratorium under Section 14 of the Code.

## Facts

Mr. Dinesh Khetan, a financial creditor, initiated CIRP against Bigmoon Buildcon Private Limited by filing an application under Section 7 of the IBC. The Company Petition (IB) 572 (PB) / 2019 was admitted on 03.09.2019, imposing a moratorium. The Resolution Professional (RP) took steps to appoint valuers and published an invitation for expression of interest (EOI). The RP received EOIs from PanchTatva Promoters Private Limited, One City Infrastructures Private Limited, and Mr. Sunil Kumar Agrawal. The RP did not receive a resolution plan from any of the initial applicants. The RP re-issued Form-G and received one EOI from SBC Exports Limited & JM Propinfra Private Limited. The RP submitted a Compliance Certificate under Section 30(2) of the Code. The CoC approved

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## Issues and analysis

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

**Ratio:** Section 30(2) of the Code specifies the requirements that a resolution plan must meet for

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

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**Interpretation:** Section 30(2) sets out mandatory requirements for a resolution plan to be

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**Application:** The Adjudicating Authority found that the Resolution Plan complied with Section

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## Parties

- **Judges:** SH. B.S.V.…; Sh. Hemant Kumar…
- **Appellants:** Dinesh K…
- **Respondents:** Bigmoon Buildcon…

## Timeline

- **2019-09-03 — Admission of Company…**: Company Petition (IB) 572 (PB) / 2019 was admitted, imposing a moratorium under Section…
- **2019-11-07 — Invitation for…**: Resolution Professional published an invitation for expression of interest in requisite…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 30(6) — Submission of resolution plan](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-30)

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