# Approval of Resolution Plan - Tirupati Properties and Investment Private Limited

> NCLT judgment dated 2025-05-13. Citation: TCN-2025-NCLT-00968. The application is under Section 30(6) and Section 31 of the Insolvency & Bankruptcy Code,…

- **Court:** NCLT
- **Order date:** 13 May 2025
- **Citation:** TCN-2025-NCLT-00968
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/approval-of-resolution-plan-tirupati-properties-and-investment-private-limited-453b7352

## Summary

### Background

The application is under Section 30(6) and Section 31 of the Insolvency & Bankruptcy Code, 2016, along with Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.

## Facts

The Corporate Debtor was admitted into CIRP vide order dated 13.08.2024.

Vasudeo Agarwal was appointed as IRP and later continued as RP.

Public announcement was made on 17.08.2024 inviting claims from creditors.

The Resolution Professional filed a list of creditors on 05.09.2024.

Only one resolution plan was received from Tulip Suppliers Private Limited.

The Resolution Plan was approved with 100% voting in favor.

The Resolution Applicant deposited Rs. 25,00,000/- towards Performance Security.

The total plan value for the Corporate Debtor is INR 2500 Lakhs plus actual CIRP Cost.

The Resolution Plan has been approved with 100% voting share by the CoC.

## Issues and analysis

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

**Ratio:** The Adjudicating Authority must be satisfied that the Resolution Plan complies with

…

**Reasoning:** The Learned Counsel for the Resolution Professional submitted that the Resolution Plan

…

**Interpretation:** The Resolution Plan must adhere to the statutory requirements outlined in the

…

**Application:** The Adjudicating Authority, upon perusal of the documents and affidavit of the

…

## Parties

- **Judges:** BIDISHA BA…; Cmde Siddharth…
- **Appellants:** Kanhaiya Power…; Vasudeo A…
- **Respondents:** Tirupati Propertie…; Anuj Kumar…
- **Advocates:** Anuj Kumar…; Pranit…; +6 more

## Timeline

- **13.05.2025 — Date of pronouncement…**: Date on which the order…
- **13.08.2024 — Date of initiation of…**: The date on which the Corporate…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-kolkata/approval-of-resolution-plan-tirupati-properties-and-investment-private-limited-453b7352