# In the matter of Starlite Infracon Pvt. Ltd. IA(IB)No. 177-KB-2021 in CP(IB)No.676(KB) 2019

> NCLT judgment dated 2022-07-06. Citation: TCN-2022-NCLT-04604. The case involves an application under section 30(6) and section 31(1) of the Insolvency and…

- **Court:** NCLT
- **Order date:** 6 Jul 2022
- **Citation:** TCN-2022-NCLT-04604
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/starlite-infracon-pvt-ltd-iaibno-177-kb-2021-in-cpibno676kb-2019-c83917ab

## Summary

### Background

The case involves an application under section 30(6) and section 31(1) of the Insolvency and Bankruptcy Code, 2016 for the approval of a Resolution Plan for Starlite Infracon Private Limited, the Corporate Debtor.

## Facts

Reliance Home Finance Ltd. filed a Company Petition (C.P. (IB) No. 676/KB/2019) against Starlite Infracon Pvt. Ltd., the Corporate Debtor, under section 7 of the Insolvency and Bankruptcy Code, which was admitted on 16.03.2020.

Niraj Kumar Agrawal was appointed as the Interim Resolution Professional (IRP) and later resolved by the Committee of Creditors (CoC) to be appointed as the Resolution Professional (RP).

The CIRP timeline was extended with the approval of the Adjudicating Authority due to the exclusion of the lockdown period.

An invitation in Form 'G' was published on 08.09.2020, inviting Expressions of Interest (Eol) from potential resolution applicants.

D N P Heights Welfare Association and Harshvardhan Reddy were selected as Final resolution Applicants.

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## Issues and analysis

### Issue 1: Whether the Resolution Plan meets the …

**Ratio:** The Resolution Plan must provide for payment of CIRP cost in priority to repayment of

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**Reasoning:** The Resolution Plan was examined to ensure compliance with the mandatory requirements of

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**Interpretation:** Section 30(2) sets out the mandatory requirements for a resolution plan,

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**Application:** The Adjudicating Authority assessed whether the Resolution Plan adhered to the

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## Parties

- **Judges:** RohitKa…; Harish Chander…
- **Appellants:** Niraj Kumar…
- **Respondents:** Starlite Infracon…
- **Other parties:** Reliance Home…; Other Operational…
- **Advocates:** Shaunak…; Saurav…

## Timeline

- **16.03.2020 — Admission in…**: The Company Petition filed by Reliance Home Finance Ltd. was admitted into Corporate…
- **22.07.2020 — Appointment…**: The Committee of Creditors (CoC) resolved to appoint Mr. Niraj Kumar Agrawal as 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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