# In the matter of Govind Rubber Limited MA 3636-2019 In C.P. (IB) 410-MB-2018

> NCLT judgment dated 2020-01-31. Citation: TCN-2020-NCLT-02109. The case pertains to Miscellaneous Application (MA) No. 3636/2019 filed by Vishal Ghisulal…

- **Court:** NCLT
- **Order date:** 31 Jan 2020
- **Citation:** TCN-2020-NCLT-02109
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/govind-rubber-limited-ma-3636-2019-in-cp-ib-410-mb-2018-04bc7d09

## Summary

### Background

The case pertains to Miscellaneous Application (MA) No. 3636/2019 filed by Vishal Ghisulal Jain, the Applicant Resolution Professional, under section 30(6) of the Insolvency and Bankruptcy Code, 2016 (I&B Code) in C.P. (IB) 410/MB/2018. The Corporate Insolvency Resolution Process (CIRP) was initiated against Govind Rubber Limited following an order by the Tribunal on 2019-01-18 under Section 9 of the I&B Code.

## Facts

Vishal Ghisulal Jain, the Resolution Professional, filed MA No. 3636/2019 under Section 30(6) of the I&B Code, seeking approval of the resolution plan for Govind Rubber Limited. The CIRP was initiated on 2019-01-18. The Resolution Professional invited EoIs and received two resolution plans, one from Kohinoor India Private Limited and another from the Resolution Applicant. Kohinoor India Private Limited failed to provide the Bank Guarantee/EMD and withdrew from the process. The Resolution Applicant had remitted ₹1,00,00,000/- to the company's account. The CoC approved the resolution plan with 85.29% voting share. The Resolution Professional submitted Form H certifying compliance with the I&B Code and CIRP Regulations. The resolution plan includes provisions for

…

## Issues and analysis

### Issue 1: Whether the resolution plan submitted by the Resolution Applicant complies with the provisions of …

**Ratio:** Section 30(6) of the I&B Code mandates that the Adjudicating Authority must be

…

**Reasoning:** The Resolution Professional certified that the resolution plan complies with all the

…

**Interpretation:** The legal issue concerns the compliance of the resolution plan with the

…

**Application:** In this case, the Resolution Professional submitted Form H certifying

…

## Parties

- **Judges:** Bhaskara Pantula…; RAJESH S…
- **Appellants:** Vishal Ghisulal…
- **Respondents:** Govind Rubber…
- **Advocates:** Mayur Khand…; Prajakta M…; +1 more

## Timeline

- **2018-01-01 — C.P. (IB)…**: C.P. (IB) 410/MB/2018…
- **2019-01-18 — CIRP Init…**: Tribunal order initiating Corporate Insolvency Resolution Process (CIRP) against Govind…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-chandigarh/govind-rubber-limited-ma-3636-2019-in-cp-ib-410-mb-2018-04bc7d09