# Approval of Resolution Plan - Pabitra Enclave Private Limited

> NCLT judgment dated 2025-06-13. Citation: TCN-2025-NCLT-00705. The case pertains to an application filed under section 30(6) and section 31 of the Insolvency…

- **Court:** NCLT
- **Order date:** 13 Jun 2025
- **Citation:** TCN-2025-NCLT-00705
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/approval-of-resolution-plan-pabitra-enclave-private-limited-987de099

## Summary

### Background

The case pertains to an application filed under section 30(6) and section 31 of the Insolvency & Bankruptcy Code, 2016, read with regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking approval of a Resolution Plan for Pabitra Enclave Private Limited. The Resolution Professional (RP) filed the application after the Committee of Creditors (CoC) approved the Resolution Plan submitted by Sikhar Commotrade Private Limited with a 100% vote. The CIRP was initiated vide order dated 14.11.2024, and Mr. Abhit Kumar Singh was appointed as the IRP and later confirmed as the RP.

## Facts

The Corporate Debtor, Pabitra Enclave Private Limited, was admitted into CIRP vide order dated 2024-11-14. Mr. Abhit Kumar Singh was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP made a public announcement on 2024-11-20 inviting claims from creditors. The Committee of Creditors (CoC) was constituted as per Section 18 of the Code, and the constitution report was submitted to the Tribunal on 2024-11-30. The RP convened the 2nd CoC Meeting on 2024-12-30, where the CoC confirmed the appointment of Valuers and Transaction Auditors. Form “G” was published on 2025-01-06, and only one Expression of Interest was received. The Information Memorandum was shared with the Prospective Resolution Applicant in

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## Issues and analysis

### Issue 1: Whether the Resolution Plan complies with the provisions of the Insolvency and Bankruptcy Code, …

**Ratio:** The Resolution Plan must comply with sections 30 and 31 of the IBC and regulations 38 and

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**Reasoning:** The court perused the documents and the affidavit of the Resolution Professional and was

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**Interpretation:** This ensures that the Resolution Plan adheres to the statutory framework

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**Application:** The court's satisfaction based on the documents and affidavit indicates that

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## Parties

- **Judges:** BIDISHA BA…; Siddharth…
- **Appellants:** Sambhav Mercantile…
- **Respondents:** Pabitra Enclave…
- **Advocates:** Arundhati Barma…; Shreya Cho…

## Timeline

- **2024-11-14 — CIRP Init…**: Corporate Debtor…
- **2024-11-20 — Public Annou…**: RP made a public announcement…

## 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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