# Approval of Resolution Plan - J.R. Agrotech Private Limited

> NCLT judgment dated 2025-04-23. Citation: TCN-2025-NCLT-00194. The case pertains to the Corporate Insolvency Resolution Process (CIRP) of J.R. Agrotech…

- **Court:** NCLT
- **Order date:** 23 Apr 2025
- **Citation:** TCN-2025-NCLT-00194
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/approval-of-resolution-plan-jr-agrotech-private-limited-000c3d84

## Summary

### Background

The case pertains to the Corporate Insolvency Resolution Process (CIRP) of J.R. Agrotech Private Limited, initiated by Oriental Bank of Commerce (OBC) under Section 31 of the Insolvency and Bankruptcy Code, 2016. The CIRP was triggered by a Company Petition filed by OBC against J.R. Agrotech, leading to the admission of the case and the appointment of an Interim Resolution Professional (IRP), Mr. Dinesh Seth. Subsequently, Mr. Mohit Chawla replaced Mr. Seth as the Resolution Professional (RP). Throughout the CIRP, several meetings of the Committee of Creditors (CoC) were convened to discuss various aspects, including the IRP's fees, the appointment of valuers, and the invitation of resolution plans. Compact Capital Limited submitted a resolution plan that was initially

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## Facts

Oriental Bank of Commerce (OBC) initiated Corporate Insolvency Resolution Process (CIRP) against J.R. Agrotech Private Limited by filing CP(IB) No.46/Chd/Pb/2018. The petition was admitted on 2018-07-27, and Mr. Dinesh Seth was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement on 2018-08-04, inviting creditors to submit their claims. Claims were received from six financial creditors, including OBC, Union Bank of India (UBI), Canara Bank, IDBI, UCO Bank, and State Bank of India (SBI), and twenty-one operational creditors. The Committee of Creditors (CoC) was constituted on 2018-08-23. Several CoC meetings were held to discuss the IRP's fees, the appointment of valuers, and the invitation of resolution plans. Mr. Mohit Chawla was

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## Issues and analysis

### Issue 1: Whether SRA can contend for rejection of …

**Ratio:** The Hon’ble Supreme Court Judgement in the matter of “Ebix Singapore Pvt. Ltd. vs. CoC of

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**Reasoning:** The SRA is attempting to exit from the Resolution Plan on the ground of change in

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**Interpretation:** The Supreme Court has established that a resolution plan, once approved by the

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**Application:** The Adjudicating Authority rejected the SRA's arguments for rejecting the

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## Parties

- **Judges:** Harnam Singh…; UMESH KUMAR…
- **Appellants:** Oriental Bank of…
- **Respondents:** J.R. Agrotech…; Compact Capital…
- **Advocates:** Abhishek…; Munisha G…; +3 more

## Timeline

- **2018-07-27 — Admission in…**: Company Petition CP(IB) No.46/Chd/Pb/2018 filed by Oriental Bank of Commerce was…
- **2018-08-04 — Public Annou…**: Interim Resolution Professional (IRP) made a public announcement in Form A, inviting…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 31 — Approval of resolution plan](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-31)

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