# Jalesh Kumar Grover vs. Delcray Cables Private Limited

> NCLT judgment dated 21 Apr 2026. Citation: TCN-2026-NCLT-00413. Delcray Cables Private Limited, an MSME incorporated in 1993, became non-operational in 2019.…

- **Court:** NCLT
- **Order date:** 21 Apr 2026
- **Citation:** TCN-2026-NCLT-00413
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/jalesh-kumar-grover-vs-delcray-cables-private-limited-6a745e83

## Summary

### Background

Delcray Cables Private Limited, an MSME incorporated in 1993, became non-operational in 2019. Punjab National Bank, a financial creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Delcray Cables Private Limited under Section 7 of the IBC, which was admitted on 13.01.2023. Mr. Jalesh Kumar Grover was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) was solely composed of Punjab National Bank. Expressions of Interest were invited, leading to the submission of two resolution plans.

## Facts

Delcray Cables Private Limited, the Corporate Debtor, was incorporated on 10.06.1993, registered as an MSME on 25.02.2017, and has been non-operational since 2019.

Punjab National Bank initiated Corporate Insolvency Resolution Process (CIRP) against Delcray Cables Private Limited under Section 7 of the IBC, which was admitted on 13.01.2023.

Mr. Jalesh Kumar Grover was appointed as Interim Resolution Professional (IRP) and subsequently confirmed as Resolution Professional (RP) for Delcray Cables Private Limited.

The Committee of Creditors (CoC) comprised solely of Punjab National Bank, which approved Mr. Rohit Bindlish's Resolution Plan with a 100% voting share on 04.10.2023.

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## Issues and analysis

### Issue 1: Compliance with Section …

**Ratio:** Section 30(2)(a) mandates that the Resolution Plan must provide for the payment of the

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**Reasoning:** The Resolution Plan stipulates payment of CIRP costs at Rs. 22.90 Lakh. The Successful

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**Interpretation:** The court interpreted this provision to ensure that CIRP costs are prioritized

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**Application:** The plan's specific provision for CIRP costs and the SRA's undertaking for

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## Parties

- **Judges:** K. Bi…; KAUSHALENDRA…
- **Appellants:** Jalesh Kumar…
- **Respondents:** Delcray Cables…
- **Other parties:** Corporate…; Resolutio…; +12 more

## Timeline

- **1993-06-10 — Incorporation of…**: Delcray Cables Private Limited was incorporated…
- **2017-02-25 — MSME Regist…**: Delcray Cables Private Limited…

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