# In the matter of Jharkhand Mega Food Park Private Limited IA (IB) No. 842-KB-2021 in CP (IB) No. 1231-KB-2019

> NCLT judgment dated 10 Feb 2022. Citation: TCN-2022-NCLT-04196. The case involves an application filed by Mr. Niraj Agrawal, the Resolution Professional (RP)…

- **Court:** NCLT
- **Order date:** 10 Feb 2022
- **Citation:** TCN-2022-NCLT-04196
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/jharkhand-mega-food-park-private-limited-ia-ib-no-842-kb-2021-in-cp-ib-no-1231-k-cb4dc62d

## Summary

### Background

The case involves an application filed by Mr. Niraj Agrawal, the Resolution Professional (RP) of Jharkhand Mega Food Park Private Limited (the Corporate Debtor), under sections 30(6) and 31(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), for the approval of a Resolution Plan. The underlying Corporate Insolvency Resolution Process (CIRP) was initiated by Allahabad Bank (now Indian Bank) against the Corporate Debtor under section 7 of the IBC, and the CIRP commenced on January 10, 2020. Mr. Niraj Agrawal was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the RP by the Committee of Creditors (CoC) with 100% voting on February 6, 2020. The Resolution Plan was approved by the CoC with 100% voting on August 28, 2021, and the RP

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## Facts

The application was filed by Mr. Niraj Agrawal, the Resolution Professional (RP) of Jharkhand Mega Food Park Private Limited, seeking approval for a Resolution Plan under sections 30(6) and 31(1) of the Insolvency and Bankruptcy Code, 2016 (IBC). The Corporate Debtor, Jharkhand Mega Food Park Private Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) on January 10, 2020, following a petition filed by Allahabad Bank (now Indian Bank) under section 7 of the Code.

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## Issues and analysis

### Issue 1: Whether the Resolution Plan complies with the provisions of the Insolvency and Bankruptcy Code,…

**Ratio:** A Resolution Plan must comply with all mandatory provisions of the IBC and CIRP…

**Reasoning:** The court examined the Resolution Plan against the mandatory requirements of **sections…

**Interpretation:** The court interpreted **sections 30 and 31 of the IBC** and **regulations 37,…

**Application:** The Resolution Plan was found to comply with the statutory requirements, as it…

## Parties

- **Judges:** Rajasekha…; Balraj…
- **Advocates:** For the Applicant/…; Niraj Ag…; +1 more

## Timeline

- **January 10, 2020 — CIRP Admi…**: The Corporate Debtor was admitted into…
- **January 15, 2020 — Public Annou…**: Public announcement in Form A was made in 'The Times of India' and 'Sanmarg' calling for…

## 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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