# Approval of Resolution Plan - Positive Electronics Ltd.

> NCLT judgment dated 2025-11-04. Citation: TCN-2025-NCLT-01658. The application is filed under section 30(6) and section 31 of the Insolvency & Bankruptcy…

- **Court:** NCLT
- **Order date:** 4 Nov 2025
- **Citation:** TCN-2025-NCLT-01658
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/approval-of-resolution-plan-positive-electronics-ltd-6eb15839

## Summary

### Background

The application is filed under section 30(6) and section 31 of the Insolvency & Bankruptcy Code, 2016 read with regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 for approval of Resolution Plan.

## Facts

The CIRP of Corporate Debtor commenced on 17.10.2024.

Udit Agarwal was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional.

The Committee of Creditors was formed on 07.11.2024, with the Financial Creditor having 100% voting right.

Quicktouch Technologies Ltd. was declared as the Successful Resolution Applicant (SRA).

The CoC approved the Resolution Plan of Quicktouch Technologies Ltd. by 100% vote in its Meeting held on 05.06.2025.

The RP appointed registered valuers Mrs. Rachna Anchalia and Mr. Riteek Baheti on 13.11.2024.

The RP appointed a Transaction Auditor namely Beriwal & Associates on 30.01.2025.

The RP published a provisional list of PRAs on 16.01.2025 and the final list on 31.01.2025.

…

## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by …

**Ratio:** The Adjudicating Authority has the power to approve a resolution plan if it complies with

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**Reasoning:** The CoC approved the resolution plan with 100% voting share, indicating its commercial

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**Interpretation:** The approval of the resolution plan is in line with the objectives of the IBC,

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**Application:** The Resolution Plan submitted by Quicktouch Technologies Ltd. is approved, as

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## Parties

- **Judges:** BIDISHA BA…; Siddharth…
- **Appellants:** Matribhumi Fincap…; Udit Ag…
- **Respondents:** Positive Electroni…
- **Other parties:** National Securitie…; Bombay Stock…
- **Advocates:** Shaunak…; Avik Chau…; +1 more

## Timeline

- **2024-10-17 — Commencement…**: The CIRP of Corporate Debtor…
- **2024-10-19 — Public annou…**: Public announcement in “Form…

## 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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