# Approval of Resolution Plan - SDF Industries Limited

> NCLT judgment dated 2026-04-16. Citation: TCN-2026-NCLT-00390. The case pertains to the approval of a resolution plan for SDF Industries Limited under the…

- **Court:** NCLT
- **Order date:** 16 Apr 2026
- **Citation:** TCN-2026-NCLT-00390
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kochi/approval-of-resolution-plan-sdf-industries-limited-fcf2f88a

## Summary

### Background

The case pertains to the approval of a resolution plan for SDF Industries Limited under the Insolvency and Bankruptcy Code, 2016. The resolution plan was submitted by M/s Associated Alcohols & Breweries Limited and approved by the Committee of Creditors (CoC).

## Facts

The Company Petition CP(IBC)/21/KOB/2024 was filed by M/s. Mudali Associates, an Operational Creditor, against the Corporate Debtor.

CIRP commenced on 04.04.2025.

Ramachandran Thekkumkat Madathil was appointed as the IRP and later confirmed as the RP.

The CoC approved the resolution plan submitted by M/s Associated Alcohols & Breweries Limited with 100% voting share on 22.12.2025.

The Resolution Plan envisages a total amount of Rs. 30,85,47,342/-.

The Resolution Applicant will infuse Rs.12,98,34,363/- for certain payments and allotment of fresh equity share capital.

The existing equity share capital of SDFIL shall be reduced and cancelled.

The Resolution Applicant will hold 100% shareholding in the restructured share capital of SDFIL.

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## Issues and analysis

### Issue 1: Whether the Resolution Plan complies with the provisions of the Insolvency and Bankruptcy Code, …

**Ratio:** The Adjudicating Authority must ensure that the resolution plan complies with Section

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**Reasoning:** The Adjudicating Authority relies on the judgments of the Supreme Court in K. Sashidhar v

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**Interpretation:** The compliance with Section 30(2) is interpreted to mean that the resolution

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**Application:** The Adjudicating Authority finds that the Resolution Plan submitted by M/s

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## Parties

- **Judges:** Vinay…
- **Appellants:** Ramachandran…
- **Respondents:** SDF Industries…
- **Other parties:** Anshuman…; Prasann Kumar…; +10 more
- **Advocates:** A C Venu…

## Timeline

- **19.01.2026 — Date of Inst…**: The application…
- **16.04.2026 — Order deliv…**: The order for the…

## 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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