# In the matter of DHRUVI PROPERTIES PRIVATE LIMITED

> Read the full IBC case summary for In the matter of DHRUVI PROPERTIES PRIVATE LIMITED. NCLT judgment dated 2025-09-09. Citation: TCN-2025-NCLT-01387.

- **Court:** NCLT
- **Order date:** 9 Sept 2025
- **Citation:** TCN-2025-NCLT-01387
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/dhruvi-properties-private-limited-b458fd93

## Summary

### Background

The Resolution Professional filed an application under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, seeking approval of the Resolution Plan for Dhruvi Properties Private Limited.

## Facts

The Resolution Professional (RP) of Dhruvi Properties Private Limited, the Corporate Debtor, filed an application under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, seeking approval of the Resolution Plan submitted by M/s Gajra Real Estate Private Limited. The plan was approved by the Committee of Creditors (CoC) with 100% votes in its 5th meeting held on July 13, 2024. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on December 15, 2023, under Section 7 of the Code, and the applicant was appointed as the Interim Resolution Professional (IRP).

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## Issues and analysis

### Issue 1: Whether the members of the Committee of Creditors (CoC) were related parties to the Corporate…

**Ratio:** A financial creditor or its authorized representative, if a related party of the…

**Reasoning:** The NCLT found a deep entanglement between the Corporate Debtor and its CoC members,…

**Interpretation:** The court interpreted Section 21(2) broadly to prevent bias in CoC decisions,…

**Application:** Given the established related party relationships between all CoC members and…

## Parties

- **Judges:** Hariharan…; LAKSHMI G…
- **Advocates:** For Applicant/RP:…

## Timeline

- **December 15, 2023 — CIRP Commen…**: The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP)…
- **December 22, 2023 — Public Annou…**: The IRP made a public announcement under Regulation 6 of the CIRP Regulations inviting…

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