# Approval of Resolution Plan - Darode Jog Realities Private Limited

> NCLT judgment dated 2025-09-15. Citation: TCN-2025-NCLT-01449. The case pertains to an application filed under Section 30(6) of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 15 Sept 2025
- **Citation:** TCN-2025-NCLT-01449
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/approval-of-resolution-plan-darode-jog-realities-private-limited-a1efa1b0

## Summary

### Background

The case pertains to an application filed under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, seeking approval of a resolution plan for Darode Jog Realties Private Limited, the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application filed by ICICI Bank Limited under Section 7 of the IBC.

## Facts

CIRP was initiated against Darode Jog Realties Private Limited based on an application by ICICI Bank Limited.

Akansha Ashish Rathi was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP).

The CoC approved a resolution plan submitted by Mr. Sudhir Chandrakant Darode with a 98.11% majority.

The resolution plan involves a total resolution amount of Rs. 12,29,39,140/-.

The RP filed applications seeking extensions of the CIRP period due to various reasons, including pending appeals and delays in the resolution process.

A transaction audit was conducted, and an application was filed regarding preferential transactions, which was later withdrawn.

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## Issues and analysis

### Issue 1: Whether the resolution plan …

**Ratio:** The resolution plan must comply with all the requirements specified in Section 30(2) of

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**Reasoning:** The Tribunal is required to ensure that the resolution plan meets the mandatory

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**Interpretation:** Section 30(2) sets out the minimum requirements that a resolution plan must

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**Application:** In this case, the Tribunal found that the resolution plan submitted by the SRA

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## Parties

- **Judges:** ANIL RAJ C…; K. R. SAJI…
- **Appellants:** Akansha Ashish…
- **Respondents:** Darode Jog…
- **Other parties:** ICICI Bank…; Rahul Dattatraya…; +22 more
- **Advocates:** Nisha…; HARSHIT…

## Timeline

- **2022-10-20 — Admission…**: Order date for CIRP…
- **2023-10-23 — Public Annou…**: Public announcement…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 43 — Preferential transactions and relevant time](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-43)

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