# Approval of Resolution Plan - Gokul Super Speciality Hospital Private Limited

> NCLT judgment dated 2024-04-30. Citation: TCN-2024-NCLT-01518. The case pertains to an application filed by Mr. Rakesh Bothra, the Resolution Professional of…

- **Court:** NCLT
- **Order date:** 30 Apr 2024
- **Citation:** TCN-2024-NCLT-01518
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/approval-of-resolution-plan-gokul-super-speciality-hospital-private-limited-8db5dab2

## Summary

### Background

The case pertains to an application filed by Mr. Rakesh Bothra, the Resolution Professional of Gokul Super Speciality Hospital Private Limited, under Section 30(6) read with Section 31 and Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking approval of the Resolution Plan approved by the Committee of Creditors (CoC). The Corporate Insolvency Resolution Process (CIRP) was initiated against Gokul Super Speciality Hospital Private Limited based on a petition filed by Punjab National Bank (International) Limited under Section 7 of the IBC. The CIRP was admitted on 2022-11-16, and Mr. Bothra was appointed as the Interim Resolution Professional (IRP). The CoC, consisting solely of Punjab National Bank (International) Limited, approved the publication of Form G

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## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against Gokul Super Speciality Hospital Private Limited following a petition filed by Punjab National Bank (International) Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC). The CIRP was admitted on 2022-11-16. Mr. Rakesh Bothra was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) was formed, consisting solely of Punjab National Bank (International) Limited. The IRP published Form G to invite expressions of interest for a resolution plan. Dr. Taali Jahnavi Rao, a former member of the suspended board of directors and shareholder of the Corporate Debtor, submitted a resolution plan. The CoC approved the resolution plan with a 100% vote. The

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## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by Dr. Taali Jhanhavi Rao meets the requirements of Section …

**Ratio:** Section 30(2) of the IBC specifies the mandatory requirements that a resolution plan must

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**Reasoning:** The Adjudicating Authority examined the Resolution Plan to ensure it complies with each

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**Interpretation:** Section 30(2) is interpreted as setting out the minimum standards for a

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**Application:** The Adjudicating Authority found that the Resolution Plan complies with Section

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## Parties

- **Judges:** Shri. K.…; Shri. Manoj Kumar…
- **Appellants:** Rakesh B…
- **Respondents:** Gokul Super…; M/s Punjab…

## Timeline

- **2020-01-01 — CP (IB) No.156…**: Main Company Petition bearing CP(IB) No. 156/BB/2020 filed by Financial Creditor i.e. M/s…
- **2022-02-04 — Corporate Debtor…**: The Corporate Debtor was…

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