# In the matter of KOLON INVESTMENTS PVT LTD

> NCLT judgment dated 2025-06-30. Citation: TCN-2025-NCLT-00752. The case involves an application (IA(Plan)/42(AHM)2024) filed by the Resolution Professional…

- **Court:** NCLT
- **Order date:** 30 Jun 2025
- **Citation:** TCN-2025-NCLT-00752
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/kolon-investments-pvt-ltd-0f18cd1b

## Summary

### Background

The case involves an application (IA(Plan)/42(AHM)2024) filed by the Resolution Professional (RP) of M/s. Kolon Investments Private Limited under Section 30 read with Section 31 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking approval of a resolution plan.

## Facts

M/s. Zep Infratech Limited, a financial creditor, filed an application under Section 7 of the IBC, 2016, to initiate CIRP against M/s. Kolon Investments Private Limited.

The Adjudicating Authority admitted the application on 23.11.2023 and appointed Sachin Dinkar Bhattbhatt as the Interim Resolution Professional (IRP).

The RP invited claims from stakeholders and constituted a Committee of Creditors (CoC).

Mr. Pratik Bose submitted a resolution plan, which was approved by the CoC with a 100% majority.

The RP filed an application (IA(Plan)/42(AHM)2024) seeking approval of the resolution plan.

The Adjudicating Authority raised several queries and sought clarifications regarding the resolution plan, the corporate debtor's assets and liabilities, and the feasibility of the plan.

…

## Issues and analysis

### Issue 1: Whether the resolution plan has provisions for its effective implementation as required by Section …

**Ratio:** Section 31(1) of the IBC mandates that the Adjudicating Authority must be satisfied that

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**Reasoning:** The Adjudicating Authority found that the resolution plan lacked provisions for effective

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**Interpretation:** The Adjudicating Authority interpreted Section 31(1) to require a resolution

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**Application:** The Adjudicating Authority applied this interpretation to the facts of the case

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## Parties

- **Judges:** SHAMMI…; SANJEEV S…
- **Appellants:** Sachin Dinkar…
- **Respondents:** M/s Kolon…; M/s Kolon…
- **Advocates:** Jaimin…; Hirva…; +1 more

## Timeline

- **2023-10-19 — Application…**: M/s. Zep Infratech Limited filed an…
- **2023-11-23 — CIRP Comm…**: Adjudicating Authority admitted the application and appointed Sachin Dinkar Bhattbhatt as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 79(2) — Definitions](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-79)

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