# In the matter of Skipper Homes Private Limited IA (IB) No. 716 & 871-KB-2020 in CP (IB) No. 846-KB-2019

> NCLT judgment dated 2021-02-11. Citation: TCN-2021-NCLT-03068. The case involves two interconnected applications, IA (IB) No. 716/KB/2020 and IA (IB) No.…

- **Court:** NCLT
- **Order date:** 11 Feb 2021
- **Citation:** TCN-2021-NCLT-03068
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/skipper-homes-private-limited-ia-ib-no-716-871-kb-2020-in-cp-ib-no-846-kb-2019-907f0213

## Summary

### Background

The case involves two interconnected applications, IA (IB) No. 716/KB/2020 and IA (IB) No. 871/KB/2020, in CP (IB) No. 846/KB/2019, before the National Company Law Tribunal (NCLT), Kolkata Bench. IA (IB) No. 716/KB/2020 was filed by the Resolution Professional (RP) of Skipper Homes Private Limited under section 30(6) of the Insolvency and Bankruptcy Code (IBC) for approval of a resolution plan. IA (IB) No. 871/KB/2020 was filed by Aditya Birla Finance Limited, a secured financial creditor, objecting to certain clauses of the resolution plan, specifically the waiver or relinquishment of debt and the liability of the guarantor. The underlying Company Petition in CP (IB) No.846/KB/2019 was filed by Orchid Barter Private Limited against the Corporate Debtor under section 7

…

## Facts

Orchid Barter Private Limited initiated corporate insolvency resolution process (CIRP) against Skipper Homes Private Limited by filing CP (IB) No. 846/KB/2019 under Section 7 of IBC, which was admitted on 21.10.2019. Mahesh Chand Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Public announcement was made on 23.10.2019, inviting claims from creditors. Seven CoC meetings were held. Invitations for Expressions of Interest (EoI) were issued on 04.01.2020, with a deadline of 19.01.2020. Only one resolution plan was received from Curtainman Online Private Limited. The RP moved IA (IB) No. 716/KB/2020 on 17.11.2020 for approval of the resolution plan under section 30(6) of IBC. Aditya Birla Finance

…

## Issues and analysis

### Issue 1: Whether an approved Resolution Plan can extinguish personal liabilities in the teeth of the …

**Ratio:** The liability of the surety is co-extensive with that of the principal debtor unless it

…

**Reasoning:** The NCLT relied on the judgments in Maharashtra State Electricity Board v. Official

…

**Interpretation:** Section 31(1) of the Code stipulates that if the Adjudicating Authority is

…

**Application:** The NCLT applied the ratio of the cited judgments to the present case, holding

…

## Parties

- **Judges:** Rajasekha…; Harish Chander…
- **Appellants:** ADITYA BIRLA…
- **Respondents:** Skipper Homes…; Mahesh Chand…

## Timeline

- **2019-10-21 — Admission of Company…**: The underlying Company Petition in CP…
- **2019-10-23 — Public Annou…**: The IRP made public announcement in The Financial Express (English) and Aajkal (Bengali)…

## 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/skipper-homes-private-limited-ia-ib-no-716-871-kb-2020-in-cp-ib-no-846-kb-2019-907f0213