# Anil Kumar Dad (RP of Krosslink Infrastructure Ltd.) vs. HMD Industry

> NCLT judgment dated 2026-08-18. Citation: TCN-2026-NCLT-00876. CP (IB) No. 308 of 2023 was admitted on 02.11.2023, initiating Corporate Insolvency Resolution…

- **Court:** NCLT
- **Order date:** 18 Aug 2026
- **Citation:** TCN-2026-NCLT-00876
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/anil-kumar-dad-rp-of-krosslink-infrastructure-ltd-vs-hmd-industry-smufn

## Summary

### Background

CP (IB) No. 308 of 2023 was admitted on 02.11.2023, initiating Corporate Insolvency Resolution Process (CIRP) against M/s. Krosslink Infrastructure Ltd. (Corporate Debtor). Mr. Anil Kumar Dad was appointed as the Interim Resolution Professional (IRP) and subsequently continued as the Resolution Professional (RP). The Committee of Creditors (CoC) was constituted on 06.12.2023, with M/s. Starwort Engineers Pvt. Ltd. as the sole Financial Creditor. After initial non-receipt of Expressions of Interest (EOI) and subsequent CIRP extensions, M/s. HMD Industry submitted a Resolution Plan. This plan was initially approved by the CoC on 29.12.2024 with 100% voting share but was later withdrawn for reconsideration due to directions from the Adjudicating Authority for asset

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## Facts

The present application (IA (IBC) (PLAN) No. 130 of 2025) was filed by Mr. Anil Kumar Dad, the Resolution Professional of M/s. Krosslink Infrastructure Ltd., seeking approval of the Resolution Plan.

The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Krosslink Infrastructure Ltd. (Corporate Debtor) under Section 7 of the IBC, 2016 on 02.11.2023.

Mr. Anil Kumar Dad was appointed as the Interim Resolution Professional (IRP) on 02.11.2023 and subsequently continued as the Resolution Professional (RP).

The Committee of Creditors (CoC) was constituted on 06.12.2023, with M/s. Starwort Engineers Pvt. Ltd. as the sole Financial Creditor, holding 100% voting share.

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## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by M/s. HMD Industry complies with the provisions of Section …

**Ratio:** The Resolution Professional certified compliance with Section 30(2) of the Code and

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**Reasoning:** The Resolution Professional submitted a Compliance Certificate in Form H, detailing how

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**Interpretation:** Section 30(2) and Regulation 39(4) mandate specific requirements for a

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**Application:** The Adjudicating Authority found the Resolution Plan to meet the requirements

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## Parties

- **Judges:** Shri. Prabhat…; Sushil Mahadeorao…
- **Appellants:** Anil Kumar Dad…; M/s Starwort…; +1 more
- **Respondents:** M/s Krosslink…; M/s. HMD Industry…
- **Other parties:** Existing members…; New Board members…; +4 more
- **Advocates:** Yash Mo…; Aditya Shivswaroop…

## Timeline

- **2023-11-02 — Initiation of CIRP and…**: The Adjudicating Authority admitted CP (IB) No. 308/MB/2023 under Section 7 of the IBC,…
- **2023-11-07 — Public Annou…**: A Public Announcement in Form A was made in accordance with Regulation 6 of the CIRP…

## 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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