# Mr.Prashant Jain Resolution Professional of Best IT World India Private Limited

> NCLT judgment dated 2025-06-17. Citation: TCN-2025-NCLT-00700. The case involves an application for approval of a Resolution Plan submitted by Zebronics India…

- **Court:** NCLT
- **Order date:** 17 Jun 2025
- **Citation:** TCN-2025-NCLT-00700
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/mrprashant-jain-resolution-professional-of-best-it-world-india-private-limited-ac59b214

## Summary

### Background

The case involves an application for approval of a Resolution Plan submitted by Zebronics India Private Limited for the insolvency resolution of Best IT World India Private Limited, the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on 22.05.2024. Mr. Rakesh Kumar Tulsyan was appointed as the Interim Resolution Professional (IRP). The IRP published a public announcement inviting claims from creditors. The Committee of Creditors (CoC) was constituted, and the IRP invited Expression of Interest (EOI). After due verification, a provisional list of Prospective Resolution Applicants (PRAs) was declared. The Evaluation Matrix and the Request for Resolution Plan (RFRP) were discussed and approved. The Interim

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## Facts

The Resolution Professional of Best IT World India Private Limited, Mr. Prashant Jain, filed an application seeking approval of the Resolution Plan submitted by Zebronics India Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against Best IT World India Private Limited on 22.05.2024, and Mr. Rakesh Kumar Tulsyan was appointed as the Interim Resolution Professional (IRP). The IRP published a public announcement inviting claims from creditors. The Committee of Creditors (CoC) was constituted, and the IRP invited Expression of Interest (EOI). After due verification, a provisional list of Prospective Resolution Applicants (PRAs) was declared. The Evaluation Matrix and the Request for Resolution Plan (RFRP) were discussed and approved. The

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## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by Zebronics India Private Limited meets the requirements of …

**Ratio:** Section 30(2) of the Insolvency and Bankruptcy Code, 2016, specifies the requirements

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**Reasoning:** The Adjudicating Authority observed that the Resolution Plan provides for payment of CIRP

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**Interpretation:** Section 30(2) of the IBC mandates that a resolution plan must adhere to certain

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**Application:** In this case, the Resolution Plan was found to meet the requirements of Section

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## Parties

- **Judges:** SH. Justice…; SH. PRABHAT…
- **Respondents:** Best IT World…

## Timeline

- **2024-05-22 — Initiation…**: The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate…
- **2024-05-22 — Appointment…**: Mr. Rakesh Kumar Tulsyan was appointed as the…

## 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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