# In the matter of Master Shipyard Pvt. Ltd. MA-163-IB-2018 in CP-654-IB-2017

> NCLT judgment dated 2018-06-15. Citation: TCN-2018-NCLT-01259. The case involves an application (MA/163/IB/2017) in relation to a corporate insolvency…

- **Court:** NCLT
- **Order date:** 15 Jun 2018
- **Citation:** TCN-2018-NCLT-01259
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/master-shipyard-pvt-ltd-ma-163-ib-2018-in-cp-654-ib-2017-1d0e8d44

## Summary

### Background

The case involves an application (MA/163/IB/2017) in relation to a corporate insolvency resolution process (CP/654/IB/2017). The Resolution Professional (RP) presented a resolution plan.

## Facts

The Resolution Professional (RP) filed an application. The RP presented a resolution plan. The Adjudicating Authority needs to be informed of the progress of the resolution process and the receipt of proceeds. The proceeds from the resolution plan are to be distributed according to Section 53 of the IBC, 2016.

## Issues and analysis

### Issue 1: Whether the resolution plan …

**Ratio:** A resolution plan presented by the RP can be approved if it meets the requirements of the

…

**Reasoning:** The court approved the resolution plan presented by the RP, implying that it met the

…

**Interpretation:** The approval of the resolution plan signifies that the court found it to be in

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**Application:** The RP presented a resolution plan, and the court, after considering the

…

## Parties

- **Judges:** CH. MOHD SHARIEF…; S. VIJAYARA…; +1 more
- **Appellants:** Vinod Padinhare…
- **Respondents:** MASTER SHIPYARD…

## Timeline

- **2018-06-15 — Hearing…**: Hearing held on…
- **2017-01-01 — Petition…**: CP/654/IB/2017 petition…

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