# Approval of Resolution Plan - FACT-RCF Building Products Limited

> NCLT judgment dated 2025-09-26. Citation: TCN-2025-NCLT-01427. The case pertains to the approval of a resolution plan for Fact-RCF Building Products Limited,…

- **Court:** NCLT
- **Order date:** 26 Sept 2025
- **Citation:** TCN-2025-NCLT-01427
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kochi/approval-of-resolution-plan-fact-rcf-building-products-limited-8cf8e31a

## Summary

### Background

The case pertains to the approval of a resolution plan for Fact-RCF Building Products Limited, a corporate debtor admitted into CIRP under Section 7 of the IBC. The resolution plan was submitted by Subhlaxmi Investment Advisory Pvt. Ltd.

## Facts

CIRP was initiated against Fact-RCF Building Products Limited on 11.01.2024, following a Section 7 petition by Omkara Assets Reconstruction Private Limited.

Rajat Mukherjee was appointed as the Resolution Professional (RP) after a previous RP vacated office.

The Committee of Creditors (CoC) consisted of a single financial creditor, Omkara Assets Reconstruction Private Limited.

Subhlaxmi Investment Advisory Pvt. Ltd. submitted the resolution plan, which was approved by the CoC with 100% voting share on 04.04.2025.

The resolution plan proposes a cash payment of Rs. 8.36 crores to secured financial creditors, issuance of Non-Convertible Debentures (NCDs), and equity allotment.

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## Issues and analysis

### Issue 1: Whether the Resolution Plan complies with the provisions of Section 30(2) of the Insolvency and …

**Ratio:** The Resolution Plan must comply with all mandatory requirements of Section 30(2) of the

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**Reasoning:** The Adjudicating Authority is required to ensure that the Resolution Plan adheres to the

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**Interpretation:** Compliance with Section 30(2) is a prerequisite for approval, and any deviation

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**Application:** The NCLT reviewed the Resolution Plan and found it to be in compliance with

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## Parties

- **Judges:** Shri. Vina…; Madhu S…
- **Appellants:** Rajat Muk…
- **Respondents:** FACT- RCF…
- **Other parties:** Omkara Assets…; Nitin…; +4 more
- **Advocates:** Mano Ra…; Rama…

## Timeline

- **2024-01-11 — Admission o…**: CIRP initiated against Fact-RCF Building…
- **2024-01-13 — Public Annou…**: Paper Publication in…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 43 — Preferential transactions and relevant time](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-43)

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