# In the matter of Xenia Abode Services Private Limited MA-1132-2019 in CP-1355-IB-2018

> NCLT judgment dated 2020-01-08. Citation: TCN-2020-NCLT-02445. The application was filed under Section 30(1) & (6) of the IBC, 2016, regarding the matter of…

- **Court:** NCLT
- **Order date:** 8 Jan 2020
- **Citation:** TCN-2020-NCLT-02445
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/xenia-abode-services-private-limited-ma-1132-2019-in-cp-1355-ib-2018-a60f1a15

## Summary

### Background

The application was filed under Section 30(1) & (6) of the IBC, 2016, regarding the matter of Xenia Adobe Services India Private Limited. The Resolution Professional, Nagalingam Muthiah, representing the Corporate Debtor, sought approval of the resolution plan. The CoC approved the Resolution Plan with 82.51% voting share in its meeting held on 2019-10-03.

## Facts

Xenia Adobe Services India Private Limited was undergoing Corporate Insolvency Resolution Process (CIRP). Nagalingam Muthiah was the Resolution Professional (RP) representing the Corporate Debtor. The RP filed an application under Section 31 of the Insolvency and Bankruptcy Code, 2016, seeking approval of the resolution plan. The Committee of Creditors (CoC) approved the resolution plan with 82.51% voting share in a meeting held on 2019-10-03. The resolution plan involved payments to various classes of creditors, including CIRP costs, secured financial creditors, unsecured financial creditors, operational creditors, and government entities. Nitin Sadanand, one of the Resolution Applicants and a Promoter-Suspended Director of the Corporate Debtor, was deemed eligible

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## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by the Resolution Applicant complies with the provisions of …

**Ratio:** A Resolution Plan must comply with all provisions of the Insolvency and Bankruptcy Code,

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**Reasoning:** The court reviewed the Resolution Plan and found that it complied with the provisions of

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**Interpretation:** The Insolvency and Bankruptcy Code, 2016, and its related regulations set out

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**Application:** The court applied the ratio by examining the Resolution Plan and determining

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## Parties

- **Judges:** B.S.V. Prakash…; S. VIJAYARA…
- **Appellants:** Nagalingam…
- **Respondents:** Xenia Adobe…
- **Advocates:** A.G. Sathyanarayan…

## Timeline

- **2019-01-09 — Application A…**: The Bench admitted the…
- **2019-03-07 — Appointment of…**: Mr. Nagalingam Muthiah was…

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