# Approval of Resolution Plan - Samson and Sons Builders and Developers Private Limited

> NCLT judgment dated 2026-04-08. Citation: TCN-2026-NCLT-00392. The applications IA(IBC)(Plan)/03/KOB/2024 and IA(IBC)(Plan)/05/KOB/2024 were filed by the…

- **Court:** NCLT
- **Order date:** 8 Apr 2026
- **Citation:** TCN-2026-NCLT-00392
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kochi/approval-of-resolution-plan-samson-and-sons-builders-and-developers-private-limi-a9f61311

## Summary

### Background

The applications IA(IBC)(Plan)/03/KOB/2024 and IA(IBC)(Plan)/05/KOB/2024 were filed by the Resolution Professional, Mr. K Parameswaran Nair, for approval of resolution plans submitted by 'Nova Castle Apartment Owners Association' and 'Sanctuary Apartment Owners Association'.

## Facts

The Company Petition CP(IB)/05/KOB/2021 was filed by M/s Vijayakumaran J, VJ Constructions against Samson and Sons Builders and Developers Pvt. Ltd.

The Corporate Insolvency Resolution Process (CIRP) was initiated on 03.11.2021.

Mr. Muhammed Davood CMK was initially appointed as Interim Resolution Professional but expressed his inability to continue.

Mr. Lukose Joseph was subsequently appointed as Interim Resolution Professional.

Mr. K. Parameswaran Nair was appointed as the Resolution Professional.

The Committee of Creditors (CoC) was constituted after a public announcement inviting claims.

The Corporate Debtor was engaged in real estate development with multiple projects at different stages of construction.

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## Issues and analysis

### Issue 1: Whether the Resolution Plans submitted by 'Nova Castle Apartment Owners Association' and 'Sanctuary …

**Ratio:** The Adjudicating Authority is duty-bound to examine whether the plan conforms to the

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**Reasoning:** The Adjudicating Authority found that the Resolution Plans did not meet the mandatory

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**Interpretation:** The Resolution Plans, in their present form, are conditional and lack the

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**Application:** The Resolution Plans in respect of the projects “Nova Castle" and

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## Parties

- **Judges:** Vinay…
- **Appellants:** Nova Castle…; Sanctuary…; +1 more
- **Respondents:** Samson and Sons…
- **Other parties:** Muhammed Davood…; Lukose J…; +1 more
- **Advocates:** Vinod…

## Timeline

- **2021-11-03 — Initiation…**: Corporate Insolvency Resolution Process…
- **2024-07-30 — CoC Meet…**: Committee of Creditors held its…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 30(6) — Submission of resolution plan](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-30)

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