# Approval of Resolution Plan - Dehradun Integrated Arena Limited

> NCLT judgment dated 2023-11-23. Citation: TCN-2023-NCLT-00608. The case pertains to an application (IA No.409/2023) filed by the Resolution Professional (RP),…

- **Court:** NCLT
- **Order date:** 23 Nov 2023
- **Citation:** TCN-2023-NCLT-00608
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/approval-of-resolution-plan-dehradun-integrated-arena-limited-4928db9e

## Summary

### Background

The case pertains to an application (IA No.409/2023) filed by the Resolution Professional (RP), Anshul Pathania, of M/s Dehradun Integrated Arena Limited, under Section 30(6) r/w Section 31 of the Insolvency & Bankruptcy Code, 2016, read with Regulation 39 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, for the approval of the Resolution Plan. The Corporate Insolvency Resolution Process (CIRP) was initiated based on a Company Petition CP (IB) No.118/ALD/2020 filed under Section 10 of the Code, which was admitted on 02.03.2022. The RP constituted the Committee of Creditors (CoC) and invited Expression of Interest (EOI) from potential Resolution Applicants. Several CoC meetings were held to discuss and evaluate the resolution

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## Facts

M/s Dehradun Integrated Arena Limited underwent Corporate Insolvency Resolution Process (CIRP) following the admission of a petition under Section 10 of the Insolvency and Bankruptcy Code (IBC). Anshul Pathania was appointed as the Resolution Professional (RP). The RP constituted a Committee of Creditors (CoC), which included operational creditors like Knight Frank (India) Private Limited, Golf Design, and Turfcare LLP. Initially, IL&FS Township and Urban Assets Limited (ITUAL), the sole financial creditor, was not allowed to participate in the CoC meetings due to being a related party, but the Tribunal later directed the RP to reconstitute the CoC to include ITUAL. The RP received multiple resolution plans and the CoC approved the plan submitted by Tribar

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## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by Tribar Enterprises Private Limited and Rajat Goyal …

**Ratio:** Section 31 of the IBC states that if the Adjudicating Authority (NCLT) is satisfied that

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**Reasoning:** The Tribunal found that the Resolution Plan had been approved by the CoC with 100% voting

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**Interpretation:** Section 31 mandates that the NCLT must approve a resolution plan if it meets

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**Application:** The Tribunal applied Section 31 to the facts of the case and found that the

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## Parties

- **Judges:** Praveen…; Ashish…
- **Appellants:** Anshul Pa…
- **Respondents:** M/s Dehradun…; Committee of…

## Timeline

- **2020-01-01 — Filing of Company…**: Company Petition CP (IB) No.118/ALD/2020…
- **2022-03-02 — Admission of…**: The petition was admitted by the Adjudicating…

## 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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