# In the matter of Maxim Infra Ventures Pvt. Ltd. CA No. 508-2019 In CP (IB) No. 131-Chd-HP-2018

> NCLT judgment dated 2019-11-07. Citation: TCN-2019-NCLT-00671. The case pertains to the approval of a resolution plan for Maxim Infra Venue Pvt. Ltd., a…

- **Court:** NCLT
- **Order date:** 7 Nov 2019
- **Citation:** TCN-2019-NCLT-00671
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/maxim-infra-ventures-pvt-ltd-ca-no-508-2019-in-cp-ib-no-131-chd-hp-2018-6e07ce5a

## Summary

### Background

The case pertains to the approval of a resolution plan for Maxim Infra Venue Pvt. Ltd., a corporate debtor, under Section 30(6) and 31 of the Insolvency and Bankruptcy Code, 2016. The insolvency petition was filed by the corporate applicant, Maxim Infra Venue Pvt. Ltd., under Section 10 of the Code, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). An Interim Resolution Professional (IRP) was appointed, who then issued a public announcement inviting claims from creditors. The Committee of Creditors (CoC) was constituted, and resolution applicants were invited to submit plans. After several meetings and revisions, a resolution plan submitted jointly by Shri Ram Prakash Singh and Smt. Indu Walia was approved by the CoC with 100% voting

…

## Facts

Maxim Infra Venue Pvt. Ltd. underwent Corporate Insolvency Resolution Process (CIRP) after an application under Section 10 of the Insolvency and Bankruptcy Code, 2016 was admitted on 13.09.2018. An Interim Resolution Professional (IRP) was appointed on 20.09.2018 and made a public announcement inviting claims from creditors. The Committee of Creditors (CoC) was formed, initially comprising State Bank of India and Mr. Mohinder Lal Sharma, each holding 50% voting share. Two valuers were appointed to determine the liquidation value of the corporate debtor. The CoC resolved to continue with the IRP as the Resolution Professional (RP). Four prospective resolution applicants expressed interest, and three were found eligible. The CoC sought an extension of the CIRP by 90

…

## Issues and analysis

### Issue 1: Whether the Resolution Plan meets the requirements of Section 30(2) of the Insolvency and …

**Ratio:** Section 30(2) of the Code specifies the mandatory requirements that a resolution plan

…

**Reasoning:** The Adjudicating Authority examined the resolution plan and found that it complied with

…

**Interpretation:** Section 30(2) is interpreted to ensure that resolution plans adhere to the

…

**Application:** The resolution plan was found to comply with Section 30(2) as it provided for

…

## Parties

- **Judges:** Ajay Kumar…; Pradeep R.…
- **Appellants:** Arvind…
- **Respondents:** Maxim Infra Venue…

## Timeline

- **2018-09-13 — CIRP Init…**: Order passed admitting the insolvency petition and initiating the Corporate Insolvency…
- **2018-09-20 — Appointment…**: Arvind Kumar was appointed as the…

## 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/maxim-infra-ventures-pvt-ltd-ca-no-508-2019-in-cp-ib-no-131-chd-hp-2018-6e07ce5a