# Approval of Resolution Plan - Trident Sugars Limited

> NCLT judgment dated 2025-06-04. Citation: TCN-2025-NCLT-01071. The case pertains to the approval of a resolution plan for Trident Sugars Limited, a corporate…

- **Court:** NCLT
- **Order date:** 4 Jun 2025
- **Citation:** TCN-2025-NCLT-01071
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/approval-of-resolution-plan-trident-sugars-limited-3fc1bdc4

## Summary

### Background

The case pertains to the approval of a resolution plan for Trident Sugars Limited, a corporate debtor undergoing Corporate Insolvency Resolution Process (CIRP) initiated by Prudential Ammana Sugars Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC).

## Facts

Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Trident Sugars Limited based on an application filed by Prudential Ammana Sugars Limited under Section 7 of the IBC.

Mr. Manjeet Bucha was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP).

The Committee of Creditors (CoC) was constituted, comprising Prudential Ammana Sugars Limited, M/s. Delta Sourcing, and Mr. G. V. Harisainath Reddy.

The RP issued a public announcement inviting Expressions of Interest (EOIs) from prospective resolution applicants.

Three resolution plans were received, and the CoC approved the plan submitted by M/s. Delta Sourcing with 100% voting share.

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## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by M/s. Delta Sourcing meets the requirements of Section …

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

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**Reasoning:** The Adjudicating Authority must ensure that the resolution plan provides for the payment

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**Interpretation:** The requirements of Section 30(2) are interpreted strictly to ensure fairness

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**Application:** The NCLT examined the Resolution Plan and found that it adequately addressed

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## Parties

- **Judges:** Rammurti Ku…; SH. CHARAN…
- **Appellants:** Prudential Ammana…; Manjeet…
- **Respondents:** Trident Sugars…
- **Other parties:** M/s. Delta…; G. V. Harisainath…; +1 more

## Timeline

- **2024-07-09 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) initiated against M/s. Trident Sugars…
- **2024-07-13 — Public Annou…**: Insolvency Resolution Professional (IRP) published a Public Announcement inviting claims…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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