# Approval of Resolution Plan - United News of India

> NCLT judgment dated 2025-02-12. Citation: TCN-2025-NCLT-00502. The case pertains to the Corporate Insolvency Resolution Process (CIRP) of United News of…

- **Court:** NCLT
- **Order date:** 12 Feb 2025
- **Citation:** TCN-2025-NCLT-00502
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/approval-of-resolution-plan-united-news-of-india-d7bd19f4

## Summary

### Background

The case pertains to the Corporate Insolvency Resolution Process (CIRP) of United News of India, initiated by United News of India Workers' Union as an Operational Creditor. The Resolution Professional (RP), Ms. Pooja Bahry, filed an application (I.A. No. 60/2024) under Section 30(6) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking approval of the resolution plan submitted by The Statesman Limited. The Corporate Debtor was admitted into CIRP on 19.05.2023. The CIRP period was extended beyond 330 days due to the complexity of the case and the general elections. Three resolution plans were received, with The Statesman Limited's plan being the only one that met the requirements. The Committee of Creditors (CoC), consisting solely of State Bank of India, approved

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## Facts

United News of India (UNI) underwent Corporate Insolvency Resolution Process (CIRP) initiated by its Workers' Union. Ms. Pooja Bahry was appointed as the Resolution Professional (RP). The RP filed an application seeking approval of the resolution plan submitted by The Statesman Limited. The Corporate Debtor was admitted to CIRP on 19.05.2023. State Bank of India (SBI) was the sole member of the Committee of Creditors (CoC) and approved the resolution plan with 100% voting share. The CIRP period was extended due to the complexity of the case and the general elections. The resolution plan proposed a total payment of Rs. 72 Crores to various stakeholders. The plan included provisions for the payment of CIRP costs, operational creditors, financial creditors, and employees.

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## Issues and analysis

### Issue 1: Whether the resolution plan submitted by The Statesman Limited complies with the requirements of …

**Ratio:** Section 30(2) of the IBC, 2016, specifies the requirements that a resolution plan must

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**Reasoning:** The Adjudicating Authority examined the resolution plan to ensure that it complied with

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**Interpretation:** Section 30(2) of the IBC, 2016, is interpreted to mean that a resolution plan

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**Application:** In this case, the Adjudicating Authority found that the resolution plan

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## Parties

- **Judges:** Sh. Ashok Kumar…; Charanjeet Singh…
- **Appellants:** United News of…
- **Respondents:** United News of…; United News of…

## Timeline

- **2022-01-01 — CP(IB) F…**: CP(IB) No. 764/ND/2022 was filed by…
- **2023-05-19 — CIRP Admi…**: Corporate Debtor was admitted to…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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