# Approval of Resolution Plan - Acme Realties Private Limited

> NCLT judgment dated 2025-08-26. Citation: TCN-2025-NCLT-01290. The case involves the Corporate Insolvency Resolution Process (CIRP) of Acme Realties Private…

- **Court:** NCLT
- **Order date:** 26 Aug 2025
- **Citation:** TCN-2025-NCLT-01290
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/approval-of-resolution-plan-acme-realties-private-limited-49db53c2

## Summary

### Background

The case involves the Corporate Insolvency Resolution Process (CIRP) of Acme Realties Private Limited. The resolution professional (RP) filed an application (I.A. No. 27/2025) seeking approval of the resolution plan submitted by Mantra Properties & Developers Private Limited, which was approved by the Committee of Creditors (CoC) with 100% voting share. Several Interlocutory Applications (IAs) were filed objecting to the resolution plan, primarily by Majaswadi Sarvodayanagar Co-operative Housing Society Limited.

## Facts

Acme Realties Private Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated by homebuyers.

The Committee of Creditors (CoC) approved a resolution plan submitted by Mantra Properties & Developers Private Limited with 100% votes.

Majaswadi Sarvodayanagar Co-operative Housing Society Limited filed multiple Interlocutory Applications (IAs) objecting to the resolution plan.

A settlement deed was executed between the SRA (Mantra Properties) and Majaswadi Society to resolve their disputes.

The resolution plan includes provisions for financial creditors, operational creditors, and homebuyers, with specific timelines and payment terms.

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## Issues and analysis

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

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

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**Reasoning:** Section 30(2) outlines the mandatory requirements for a Resolution Plan, including

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**Interpretation:** The Adjudicating Authority must ensure that the Resolution Plan adheres to the

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**Application:** The tribunal found that the Resolution Plan complied with Section 30(2) as it

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## Parties

- **Judges:** Hariharan…; LAKSHMI G…
- **Appellants:** Subodh Kumar…; Majaswadi…
- **Respondents:** Acme Realties…; J.P. Infra…; +4 more
- **Other parties:** Financial…; Abhishek Ranganath…; +3 more
- **Advocates:** Rayan D…; Ashish Pa…; +7 more

## Timeline

- **2024-02-21 — Commencement…**: Tribunal admitted the Corporate Debtor to Corporate Insolvency Resolution Process…
- **2024-02-23 — Public Annou…**: IRP made a public announcement under…

## 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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