# Approval of Resolution Plan - India Brewery & Distillery Private Limited

> NCLT judgment dated 2024-02-15. Citation: TCN-2024-NCLT-02588. The case pertains to an application filed by the Resolution Professional, Mr. Kondisetty Kumar…

- **Court:** NCLT
- **Order date:** 15 Feb 2024
- **Citation:** TCN-2024-NCLT-02588
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/approval-of-resolution-plan-india-brewery-distillery-private-limited-c532d284

## Summary

### Background

The case pertains to an application filed by the Resolution Professional, Mr. Kondisetty Kumar Dushyantha, under Section 30(6) read with Section 31 and 60(5)(c) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking approval of the Resolution Plan for M/s India Brewery & Distillery Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following a petition filed by an Operational Creditor, M/s Unistil Alcoblends Private Limited, under Section 9 of the IBC. The Adjudicating Authority admitted the petition on 25.02.2021 and appointed the Applicant as the Interim Resolution Professional (IRP). Public announcements were made regarding the commencement of CIRP. The Committee of Creditors (CoC) was formed,

…

## Facts

M/s India Brewery & Distillery Private Limited (Corporate Debtor) underwent Corporate Insolvency Resolution Process (CIRP) following an application by M/s Unistil Alcoblends Private Limited (Operational Creditor) under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 25.02.2021. Mr. Kondisetty Kumar Dushyantha was appointed as the Interim Resolution Professional (IRP). The IRP made public announcements regarding the commencement of CIRP. The Committee of Creditors (CoC) consisted of Operational Creditors, with M/s Unistil Alcoblends Private Limited holding 100% of the voting share. The 5th CoC meeting approved the Resolution Plan submitted by Greenergy Wind Corporation Private Limited with 99.99% votes. United Spirits

…

## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by Greenergy Wind Corporation Private Limited complies with …

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

…

**Reasoning:** The Tribunal examined the Resolution Plan to ensure that it adhered to the requirements

…

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

…

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

…

## Parties

- **Judges:** K. Bi…; Manoj Kumar…
- **Appellants:** Kondisetty Kumar…
- **Respondents:** M/s India Brewery…; M/s Unistil…

## Timeline

- **2018-01-01 — CP(IB) No.147/BB/2018…**: Main Company Petition bearing CP(IB) No. 147/BB/2018 filed by Operational Creditor i.e…
- **2021-02-25 — CIRP Commen…**: The Adjudicating Authority admitted the petition and appointed the Applicant as the…

## 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-india-brewery-distillery-private-limited-c532d284