# Approval of Resolution Plan - Cambridge Energy Resources Private Limited

> NCLT judgment dated 2025-04-25. Citation: TCN-2025-NCLT-00173. The case involves an application (IA No. 1499/2022) filed by Mr. Vekas Kumar Garg, the…

- **Court:** NCLT
- **Order date:** 25 Apr 2025
- **Citation:** TCN-2025-NCLT-00173
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/approval-of-resolution-plan-cambridge-energy-resources-private-limited-6418dd52

## Summary

### Background

The case involves an application (IA No. 1499/2022) filed by Mr. Vekas Kumar Garg, the Resolution Professional (RP) of Cambridge Energy Resources Private Limited, seeking approval of a resolution plan submitted by ConnectM Technology Solutions Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by E2E Telelink India Pvt. Ltd. under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 26.03.2021, and Mr. Vekas Kumar Garg was appointed as the Interim Resolution Professional (IRP). The CoC consisted of one secured financial creditor, Indian Renewable Energy Development Agency Ltd. (IREDA), holding 100% voting share. The RP published Form-G on 28.07.2021, receiving five

…

## Facts

E2E Telelink India Pvt. Ltd., an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Cambridge Energy Resources Private Limited under Section 9 of the IBC, 2016. The application was admitted on 26.03.2021. Mr. Vekas Kumar Garg was appointed as the Interim Resolution Professional (IRP). Public announcement was made on 02.04.2021 to invite claims. The Committee of Creditors (CoC) was formed with Indian Renewable Energy Development Agency Ltd. (IREDA) as the sole secured financial creditor, holding 100% voting share. The initial CIRP period of 180 days was scheduled to expire on 27.09.2021, but extensions were granted due to the COVID-19 pandemic and other reasons, extending the period till 09.05.2022 and later till 15.09.2022. Form-G

…

## Issues and analysis

### Issue 1: Whether the resolution plan submitted by ConnectM Technology Solutions Private Limited and approved …

**Ratio:** The Adjudicating Authority's role is to ensure that the resolution plan meets the

…

**Reasoning:** The Adjudicating Authority observed that the CoC had approved the resolution plan with a

…

**Interpretation:** Section 31(1) of the IBC mandates the Adjudicating Authority to approve a

…

**Application:** In this case, the Adjudicating Authority found that the resolution plan

…

## Parties

- **Judges:** Harnam Singh…; Ashish…
- **Appellants:** E2E Telelink…
- **Respondents:** Cambridge Energy…; M/s ConnectM…

## Timeline

- **2019-01-01 — CP (IB)…**: CP (IB) No. 138/Chd/Hry/…
- **2021-03-26 — Admission of Ap…**: Application under…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

---

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-division-bench-court-i-chenn/approval-of-resolution-plan-cambridge-energy-resources-private-limited-6418dd52