# Approval of Resolution Plan - Trident Sugars Limited

> NCLT judgment dated 2025-06-04. Citation: TCN-2025-NCLT-01068. 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-01068
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/approval-of-resolution-plan-trident-sugars-limited-65d1f57c

## 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, and it approved the resolution plan submitted by M/s. Delta Sourcing with 100% voting share.

The Resolution Professional presented the resolution plan to the Adjudicating Authority (NCLT) for approval under Sections 30(6) and 31 of the IBC.

The resolution plan includes provisions for payment of insolvency resolution process costs, operational creditors, and financial creditors.

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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 NCLT examined the Resolution Plan to ensure it complied with all the requirements of

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**Interpretation:** The NCLT interpreted Section 30(2) to require strict compliance with the

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**Application:** The NCLT found that the Resolution Plan submitted by M/s. Delta Sourcing met

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## Parties

- **Judges:** Rammurti Ku…; SH. CHARAN…
- **Appellants:** Prudential Ammana…; Manjeet…
- **Respondents:** Trident Sugars…
- **Other parties:** Delta Sou…; Manjeet B…; +1 more

## Timeline

- **2024-07-09 — Admission of…**: 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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