# Kamalesh Kumar Singhania, RP of Maa Durga Rice Processing & Exports Pvt Ltd vs. Loramitra Rath

> NCLT judgment dated 2026-08-05. Citation: TCN-2026-NCLT-00810. Corporate Insolvency Resolution Process (CIRP) was initiated for Maa Durga Rice Processing &…

- **Court:** NCLT
- **Order date:** 5 Aug 2026
- **Citation:** TCN-2026-NCLT-00810
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-cuttack/kamalesh-kumar-singhania-rp-of-maa-durga-rice-processing-exports-pvt-ltd-vs-lora-7odou

## Summary

### Background

Corporate Insolvency Resolution Process (CIRP) was initiated for Maa Durga Rice Processing & Exports Pvt. Ltd. (Corporate Debtor) on 04.09.2019. The CD was identified as an MSME. Mrs. Loramitra Rath, a director and guarantor, submitted a Resolution Plan which was accepted by the Committee of Creditors (CoC) on 19.01.2022. The initial application for approval of this plan (IA(IB) 42/CB/2022) was dismissed, and a liquidation order was passed on 05.04.2022. The Hon'ble High Court of Orissa subsequently set aside the liquidation order on 19.05.2022, referring the matter back to the Adjudicating Authority. IA(IB) No.225/CB/2022 for restoration of IA(IB) 42/CB/2022 was allowed on 28.02.2023. During the pendency of IA 42, the Resolution Professional (RP) filed IA(IB) No.

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## Facts

Maa Durga Rice Processing & Exports Pvt. Ltd. (CD) was admitted into CIRP vide order dated 04.09.2019.

During the CIRP period, the Government of India redefined MSME units, making the CD eligible as an MSME.

Prasant Chandra Rath, a promoter and guarantor of the CD, expressed intention to submit EOI, claiming exemption from Section 29A under Section 240A of the Code.

The Resolution Applicant (Mrs. Loramitra Rath) submitted an affidavit dated 18.10.2021 confirming eligibility under Section 29A, stating her turnover was less than 250.00 crores.

The CoC, at its meeting on 03.07.2020, allowed the promoters to submit EOI as the CD was a registered Small-Scale unit.

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## Issues and analysis

### Issue 1: Whether Mrs. Loramitra Rath, the Successful Resolution Applicant, is ineligible to submit a …

**Ratio:** A person is barred from submitting a resolution plan under Section 29A(g) if they have

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**Reasoning:** Mrs. Loramitra Rath was a director of M/s Maa Durga Rice Products Pvt. Ltd., a group

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**Interpretation:** Section 29A(g) disqualifies individuals involved in the management of a

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**Application:** Mrs. Loramitra Rath is found ineligible under Section 29A(g) due to her

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## Parties

- **Judges:** Sh. Cheekati…; Banwari Lal…
- **Appellants:** Kamalesh Kumar…; Bank of…
- **Respondents:** Maa Durga Rice…; Loramitra…
- **Other parties:** CoC…; Amarendr…; +1 more
- **Advocates:** Pranay Ag…; Saswat Kumar…; +1 more

## Timeline

- **2019-09-04 — CIRP Admi…**: Maa Durga Rice Processing & Exports Pvt. Ltd. (CD) was admitted into Corporate Insolvency…
- **2020-06-26 — New MSME Noti…**: New MSME notification S.O.2119(E) issued by the Govt. of India, effective from…

## 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)

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