# In the matter of Pawan Doot Estate Private Limited IA No. 1077-ND-2020 in Company Petition No. (IB)-71(ND)-2019

> NCLT judgment dated 2023-01-03. Citation: TCN-2023-NCLT-05233. The case involves an application (IA No. 1077 of 2020) filed by the Resolution Professional of…

- **Court:** NCLT
- **Order date:** 3 Jan 2023
- **Citation:** TCN-2023-NCLT-05233
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/pawan-doot-estate-private-limited-ia-no-1077-nd-2020-in-company-petition-no-ib-7-b9886d95

## Summary

### Background

The case involves an application (IA No. 1077 of 2020) filed by the Resolution Professional of M/s. Pawan Doot Estates Private Limited, seeking approval of a resolution plan submitted by a consortium of Mr. Pradeep Kumar Lathar and M/s. Mehar Footwear Private Limited. The application is filed under Section 30(6) read with Section 31(1) of the Insolvency and Bankruptcy Code, 2016, and Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process of Corporate Persons) Regulations 2016.

## Facts

Edelweiss Asset Reconstruction Company Limited initiated corporate insolvency resolution process against Pawan Doot Estate Private Limited. Darshan Singh Anand was appointed as the Resolution Professional. A resolution plan was submitted by a consortium of Pradeep Kumar Lathar and Mehar Footwear Private Limited. The Resolution Professional filed IA No. 1077 of 2020 seeking approval of the resolution plan. The court observed deficiencies in the documents submitted, specifically the absence of the affidavit under Section 29A of IBC for Pradeep Kumar Lathar and the lack of proof of Performance Guarantee. The resolution plan was submitted by a consortium of Mr. Pradeep Kumar Lathar and M/s. Mehar Footwear Private Limited.

## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by the consortium of Mr. Pradeep Kumar Lathar and M/s. Mehar …

**Ratio:** Section 31(1) of the IBC, 2016, stipulates that a resolution plan can only be approved if

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**Reasoning:** The court reasoned that the absence of the Affidavit under Section 29A of IBC for Mr.

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**Interpretation:** Section 31(1) mandates strict adherence to the conditions specified in Section

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**Application:** In this case, the court found that the absence of the required affidavit and

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## Parties

- **Judges:** SH. BACHU VENKAT…; SH. L. N.…
- **Appellants:** Edelweiss Asset…
- **Respondents:** Pawan Doot Estate…; M/s. Pawan Doot…

## Timeline

- **2019-01-01 — Company Petiti…**: Company Petition No.…
- **2020-01-01 — IA No. 1077/ND/2020…**: IA No. 1077/ND/2020 was filed by the Resolution Professional seeking approval of 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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