# Approval of Resolution Plan -  Nandi Irrigation Systems Limited

> NCLT judgment dated 2025-07-25. Citation: TCN-2025-NCLT-01144. The case involves an application filed by the Resolution Professional (RP) of the Corporate…

- **Court:** NCLT
- **Order date:** 25 Jul 2025
- **Citation:** TCN-2025-NCLT-01144
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/approval-of-resolution-plan-nandi-irrigation-systems-limited-52bb566f

## Summary

### Background

The case involves an application filed by the Resolution Professional (RP) of the Corporate Debtor (CD), M/s Nandi Irrigation Systems Limited, under Section 30(6) of the Insolvency and Bankruptcy Code (IBC), seeking approval of a Resolution Plan under Section 31(1) of the Code. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) vide Order dated 18.09.2024.

## Facts

The Corporate Debtor (CD), Nandi Irrigation Systems Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) on 18.09.2024.

M/s Rishabh Triexim LLP, the Operational Creditor, filed the Company Petition No. 22/09/HDB/2023 under Section 9 of IBC.

Mr. Maruti Venkata Subba Rao Poluri was appointed as the Interim Resolution Professional (IRP).

The IRP made a public announcement on 20.09.2024 inviting claims from creditors.

The Committee of Creditors (CoC) was constituted with Union Bank of India holding 100% voting share.

The CoC approved the appointment of the Applicant as Resolution Professional.

M/s G Joshi & Co were appointed as Registered Valuers.

The RP issued an Invitation for Expression of Interest (EoI) on 14.12.2024.

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## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by M/s P Bhadriah and Sons meets the requirements of Section …

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

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**Reasoning:** The Tribunal reviewed the Resolution Plan and found that it satisfies the requirements of

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**Interpretation:** The Resolution Plan complies with the

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**Application:** The Tribunal applied the provisions of Section 30(2) and related regulations to

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## Parties

- **Judges:** Rajeev Bh…; Sanjay…
- **Appellants:** Rishabh Tri Exim…; Rajesh Ch…
- **Respondents:** Nandi Irrigation…
- **Other parties:** Union Bank of…; Monarch Enterprise…; +3 more
- **Advocates:** G Kalyan Chakravar…

## Timeline

- **2024-09-18 — Admission in…**: The Corporate Debtor was admitted into…
- **2024-09-20 — Public Annou…**: The Interim Resolution Professional (IRP) made a public announcement inviting claims from…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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