# Approval of Resolution Plan - Nandi Irrigation Systems Limited

> NCLT judgment dated 2025-07-25. Citation: TCN-2025-NCLT-01145. The case pertains to an application filed by the Resolution Professional (RP) of the Corporate…

- **Court:** NCLT
- **Order date:** 25 Jul 2025
- **Citation:** TCN-2025-NCLT-01145
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/approval-of-resolution-plan-nandi-irrigation-systems-limited-755d963a

## Summary

### Background

The case pertains to 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 the 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), M/s Nandi Irrigation Systems Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) vide Order dated 18.09.2024.

The application was filed by M/s Rishabh Triexim LLP, the Operational Creditor, under Section 9 of IBC.

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

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

The IRP constituted the CoC with Union Bank of India holding 100% voting share.

The CoC resolved to appoint the Applicant as Resolution Professional (RP).

The CoC resolved to appoint M/s G Joshi & Co 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 and Regulations 37,

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**Reasoning:** The Tribunal carefully considered the submissions made by the Applicant RP and reviewed

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**Interpretation:** The Tribunal interpreted the provisions of Section 30(2) and related

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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 IRP made a public announcement…

## 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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