# Approval of Resolution Plan - Hindustan Eco-Tech Pvt. Ltd.

> NCLT judgment dated 2024-05-09. Citation: TCN-2024-NCLT-01387. The case pertains to an application filed on 18.04.2024 by CS Anagha Anasingaraju, the…

- **Court:** NCLT
- **Order date:** 9 May 2024
- **Citation:** TCN-2024-NCLT-01387
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/approval-of-resolution-plan-hindustan-eco-tech-pvt-ltd-6e19137e

## Summary

### Background

The case pertains to an application filed on 18.04.2024 by CS Anagha Anasingaraju, the Resolution Professional (RP) of M/s. Hindustan Eco-Tech Private Limited, seeking approval of the Resolution Plan submitted by M/s. F and K Agro Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against Hindustan Eco-Tech Private Limited following a petition under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016. The RP was appointed, and a public announcement was made, inviting claims from creditors, leading to the constitution of the Committee of Creditors (CoC).

## Facts

M/s. Hindustan Eco-Tech Private Limited faced Corporate Insolvency Resolution Process (CIRP) following a petition under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016. CS Anagha Anasingaraju was appointed as the Resolution Professional (RP). The RP published FORM-G, inviting Expression of Interest (EOI) for submission of Resolution Plans. Five EOIs were received initially, but only two applicants met the eligibility criteria. The CoC opted for re-issuance of FORM-G multiple times, resulting in a total of four EOIs. M/s. F and K Agro Private Limited was declared eligible for submission of a Resolution Plan. The proposed Resolution Plan was considered in multiple meetings of the CoC, and a revised/modified plan was submitted. The Resolution Plan dated

…

## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by M/s. F and K Agro Private Limited meets the requirements …

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

…

**Reasoning:** The NCLT observed that the Resolution Plan provided for the payment of CIRP costs as

…

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

…

**Application:** The NCLT applied the requirements of Section 30(2) to the specific details of

…

## Parties

- **Judges:** Anu Jagmoha…; KISHORE VEMULAPALL…
- **Appellants:** CS Anagha…
- **Respondents:** Hindustan…; M/s. Hindustan…

## Timeline

- **2023-07-25 — Initiation…**: Corporate Insolvency Resolution Process (CIRP) initiated against Hindustan Eco-Tech…
- **2023-07-25 — Appointment…**: Anagha Anasingaraju appointed as…

## 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)

---

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-hindustan-eco-tech-pvt-ltd-6e19137e