# Approval of Resolution Plan - Roysons Ceramics Private Limited

> NCLT judgment dated 2025-03-27. Citation: TCN-2025-NCLT-00298. The case involves a resolution plan for Roysons Ceramics Private Limited, a corporate debtor…

- **Court:** NCLT
- **Order date:** 27 Mar 2025
- **Citation:** TCN-2025-NCLT-00298
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/approval-of-resolution-plan-roysons-ceramics-private-limited-8b28cd6f

## Summary

### Background

The case involves a resolution plan for Roysons Ceramics Private Limited, a corporate debtor undergoing Corporate Insolvency Resolution Process (CIRP). The Resolution Professional (RP), Mr. Rajesh Kumar Agrawal, sought final sanction and approval of the resolution plan approved by the Committee of Creditors (CoC). The resolution plan was submitted by Mr. Subhankar Roy, the suspended director of the corporate debtor, and was revised twice before being approved with 100% voting shares at the 18th CoC meeting. The RP also filed applications (I.A.s) regarding non-cooperation from the suspended board of directors and condonation of delay in claim submission by West Bengal State Electricity Distribution Company Limited (WBSEDCL).

## Facts

Roysons Ceramics Private Limited, a registered MSME, underwent Corporate Insolvency Resolution Process (CIRP) initiated on 2023-11-09. Mr. Rajesh Kumar Agarwal was appointed as the Interim Resolution Professional (IRP) and later approved as the Resolution Professional (RP). Public announcements were made to invite claims from creditors. The RP constituted the Committee of Creditors (CoC) on 2023-11-29, with UCO Bank as the sole financial creditor holding 100% voting shares. The RP appointed two Registered Valuers who submitted reports on the Fair Value (Rs. 15,05,73,995.50/-) and Liquidation Value (Rs. 11,14,81,082/-) of the Corporate Debtor. The RP submitted the Information Memorandum (IM) to the CoC on 2024-02-06. The CoC approved the publication of the Eol in Form

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## Issues and analysis

### Issue 1: Whether the Respondents should be directed to cooperate with the RP by providing all the documents …

**Ratio:** The Insolvency and Bankruptcy Code, 2016 casts huge responsibilities on the Resolution

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**Reasoning:** The Adjudicating Authority relied on the judgment in Power Max (India) Pvt. Ltd. to

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**Interpretation:** This issue concerns the Resolution Professional's ability to fulfill their

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**Application:** The Adjudicating Authority directed the Respondents to cooperate with the RP by

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## Parties

- **Judges:** BIDISHA BA…; Madhu S…
- **Appellants:** UCO B…
- **Respondents:** ROYSONS CERAMICS…; Shaubhik Ray &…
- **Advocates:** Santosh K…; Ashmita…; +8 more

## Timeline

- **2021-01-01 — Company Petition (IB)…**: Filing of the Company…
- **2023-11-09 — Commencement…**: The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) by…

## 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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