# Approval of Resolution Plan- Sambandh Finserve Private Limited

> NCLT judgment dated 2026-01-20. Citation: TCN-2026-NCLT-00013. The case involves an application filed under Section 30(6) read with Section 31(1) of the…

- **Court:** NCLT
- **Order date:** 20 Jan 2026
- **Citation:** TCN-2026-NCLT-00013
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-cuttack/approval-of-resolution-plan-sambandh-finserve-private-limited-954f2f25

## Summary

### Background

The case involves an application filed under Section 30(6) read with Section 31(1) of the Insolvency and Bankruptcy Code, 2016, seeking approval of a resolution plan for Sambandh Finderve Private Limited, the Corporate Debtor.

## Facts

The Corporate Debtor was admitted into CIRP on 05.09.2024 for a default of Rs. 47,74,79,929/-.

Saridendu Jena was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP).

A public announcement was made on 07.09.2024 in the 'Times of India' and 'Prameya', with the last date for filing claims being 19.09.2024.

The CoC was initially constituted with 25 members, later increased to 32 members.

The RP received 12 Expressions of Interest (EoIs) initially, which increased to 13 after revisions to the eligibility criteria.

The 7th CoC meeting approved the Request for Resolution Plan Document (RFRP), with a submission deadline of 23.02.2025.

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## Issues and analysis

### Issue 1: Whether the resolution plan complies …

**Ratio:** The Adjudicating Authority must ensure that the resolution plan provides for the payment

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

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**Interpretation:** Section 30(2) sets out the mandatory requirements that a resolution plan must

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**Application:** The Adjudicating Authority applied the provisions of Section 30(2) to the

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## Parties

- **Judges:** Deep Chandr…; Banwari Lal…
- **Appellants:** Small Industries…; SARIDENDU…
- **Respondents:** Sambandh Finderve…
- **Other parties:** Commercial Tax…; Anita B…; +4 more

## Timeline

- **2024-09-05 — CIRP Commen…**: Corporate Debtor…
- **2024-09-07 — Public Annou…**: Public announcement made in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 66 — Fraudulent trading or wrongful trading](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-66)

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