# Approval of Resolution Plan - AAA Facilities Private Limited

> NCLT judgment dated 2025-04-07. Citation: TCN-2025-NCLT-00244. The case pertains to the Corporate Insolvency Resolution Process (CIRP) of AAA Facilities…

- **Court:** NCLT
- **Order date:** 7 Apr 2025
- **Citation:** TCN-2025-NCLT-00244
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/approval-of-resolution-plan-aaa-facilities-private-limited-114d71ce

## Summary

### Background

The case pertains to the Corporate Insolvency Resolution Process (CIRP) of AAA Facilities Private Limited. The CIRP was initiated following an application by Global Wind Infrastructure and Services Private Limited, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was filed before the National Company Law Tribunal (NCLT), Mumbai Bench. Mr. Rathin Majmudar was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP then filed an application under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, seeking approval of the Resolution Plan submitted by M/s West End Investment and Finance Consultancy Private Limited, which was approved by the Committee

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## Facts

The Corporate Debtor, AAA Facilities Private Limited, was admitted into CIRP on 31.07.2023, based on an application filed by Global Wind Infrastructure and Services Private Limited, an Operational Creditor. Mr. Rathin Majmudar was appointed as the IRP and later confirmed as the RP. The RP made a public announcement on 22.08.2023, inviting claims from creditors. The CoC, comprising two creditors, was constituted. Several CoC meetings were held to evaluate resolution plans. Form-G was published on 24.10.2023, inviting EOIs from prospective resolution applicants, with a submission deadline of 08.11.2023. The RP received Earnest Money Deposits from five PRAs. The CoC decided to reject the initial resolution plans and issue a fresh Form-G. The CoC approved an extension of

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## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by M/s West End Investment and Finance Consultancy Private …

**Ratio:** Section 30(2) of the Insolvency and Bankruptcy Code, 2016, outlines the requirements that

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**Reasoning:** The NCLT perused the Resolution Plan and found that it provided for the payment of CIRP

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**Interpretation:** Section 30(2) of the Code mandates that a resolution plan must adhere to

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**Application:** The NCLT applied the provisions of Section 30(2) of the Code to the Resolution

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## Parties

- **Judges:** Shri. Prabhat…; V.G. B…
- **Appellants:** Rathin Ma…
- **Respondents:** AAA Facilities…

## Timeline

- **2023-07-31 — Admission in…**: AAA Facilities Private Limited was admitted into the Corporate Insolvency Resolution…
- **2023-08-22 — Public Annou…**: Public announcement was made by the Interim Resolution Professional (IRP) to invite…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 230(5) — Delegation](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-230)

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