# In the matter of Dadi Impex Pvt. Ltd. CP(IB)-1562-(MB)-2017

> NCLT judgment dated 2019-04-09. Citation: TCN-2019-NCLT-04024. The case involves a Resolution Plan presented before the Mumbai Bench of the National Company…

- **Court:** NCLT
- **Order date:** 9 Apr 2019
- **Citation:** TCN-2019-NCLT-04024
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dadi-impex-pvt-ltd-cpib-1562-mb-2017-61d4f693

## Summary

### Background

The case involves a Resolution Plan presented before the Mumbai Bench of the National Company Law Tribunal (NCLT) under Section 9 of the Insolvency and Bankruptcy Act. The Resolution Professional (R.P.) has annexed a Resolution Plan for consideration by the Bench. Two Operational Creditors and one Financial Creditor are seeking a copy of the Resolution Plan.

## Facts

The case is before the Mumbai Bench of the National Company Law Tribunal (NCLT). A Resolution Plan has been annexed by the Resolution Professional (R.P.) for consideration. Two Operational Creditors and one Financial Creditor are seeking copies of the Resolution Plan. The Bench has determined that the decision to provide copies of the Resolution Plan lies with the Resolution Professional, contingent on its admissibility under law and approval by the Committee of Creditors (CoC). The Respondent Applicant has tendered a Fixed Deposit Receipt (F.D.R.) of Rupees Ten Lakhs, which is to be deposited in an Escrow Account of the Bank. This amount is to be retained as security by the Financial Creditor in State Bank of India and cannot be liquidated, disbursed, or adjusted

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## Issues and analysis

### Issue 1: Whether the Resolution Plan …

**Ratio:** The NCLT has the authority to consider Resolution Plans presented by the Resolution

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**Reasoning:** The Bench acknowledges the Resolution Plan annexed by the R.P. and schedules it for

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**Interpretation:** The NCLT's role is to evaluate and approve Resolution Plans to facilitate the

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**Application:** The Resolution Plan is scheduled for discussion, indicating the Bench's intent

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## Parties

- **Judges:** M.K. Sh…
- **Appellants:** Pecular Shipping…
- **Respondents:** Dadi Impex Pvt.…

## Timeline

- **2019-04-08 — Hearing…**: Hearing of Mumbai Bench of the…
- **2019-05-07 — Adjournmen…**: Case adjourned to this…

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