# In the matter of Nayati Healthcare & Research Pvt. Ltd.

> NCLT judgment dated 2025-11-06. Citation: TCN-2025-NCLT-01753. Punjab National Bank and Union Bank of India filed applications (IA No. 551 of 2025 and IA No.…

- **Court:** NCLT
- **Order date:** 6 Nov 2025
- **Citation:** TCN-2025-NCLT-01753
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/nayati-healthcare-research-pvt-ltd-0b40042b

## Summary

### Background

Punjab National Bank and Union Bank of India filed applications (IA No. 551 of 2025 and IA No. 564 of 2025 respectively) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, challenging clauses of the revised resolution plan submitted by Anshu Hospitals Limited and approved by the Committee of Creditors (CoC) in the Corporate Insolvency Resolution Process (CIRP) of Nayati Healthcare and Research Pvt. Ltd.

## Facts

The CIRP of Nayati Healthcare and Research Pvt. Ltd. was initiated on 22.12.2023.

Arvind Mittal was initially appointed as IRP and later replaced by Vikram Bajaj as RP.

Punjab National Bank, a dissenting financial creditor and member of the CoC, filed IA No. 551 of 2025 challenging the resolution plan.

Union Bank of India filed IA No. 564 of 2025 challenging the resolution plan.

The resolution plan proposed the extinguishment of entire debt and release of securities, collaterals, and personal guarantees of all financial creditors.

The Resolution Applicant offered Rs. 20 Crores against the relinquishment of personal guarantees and mortgaged properties.

The CoC approved the resolution plan with 72.73% of the voting share.

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## Issues and analysis

### Issue 1: Whether Resolution Plan providing for assignment of security interest and the guarantees of the …

**Ratio:** The Hon'ble NCLAT in PNB vs. Sandalwoods Infratech Projects Pvt. Ltd. has held that the

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**Reasoning:** The CoC deliberated over the issue, and the Resolution Applicant submitted a revised

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**Interpretation:** The clauses of the resolution plan do not contravene any provisions of Section

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**Application:** The Adjudicating Authority held that the Resolution Plan in question has

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## Parties

- **Judges:** KHETRABASI…; SHISHIR A…
- **Appellants:** Punjab National…; Union Bank of…
- **Respondents:** Nayati Healthcare…; Anshu Hospitals…; +1 more
- **Other parties:** Arvind M…; Mistcold Sales &…; +1 more
- **Advocates:** Mohit C…; Nishi Cha…; +4 more

## Timeline

- **2018 — CP(IB) No. 147/Chd/Hry/2…**: Main CP (IB) No.…
- **2023-12-22 — CIRP Init…**: The CIRP of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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