# Approval of Resolution Plan - Latakisan Construction Private Limited

> NCLT judgment dated 2025-12-16. Citation: TCN-2025-NCLT-01873. The case involves an application (IA No. 123 of 2025) filed in CP(IB) No. 860 of 2022 seeking…

- **Court:** NCLT
- **Order date:** 16 Dec 2025
- **Citation:** TCN-2025-NCLT-01873
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/approval-of-resolution-plan-latakisan-construction-private-limited-e5a4ad30

## Summary

### Background

The case involves an application (IA No. 123 of 2025) filed in CP(IB) No. 860 of 2022 seeking approval of a Resolution Plan for Latakisan Construction Private Limited. The CIRP was initiated, and an Interim Resolution Professional (IRP) was appointed, later replaced by a Resolution Professional (RP).

## Facts

CIRP was initiated against Latakisan Construction Private Limited.

Mr. Prasad Kamalakar Dharap was initially appointed as the Interim Resolution Professional (IRP).

Mr. Ajay Gupta replaced Mr. Prasad Dharap as the Resolution Professional (RP).

Kisanrao Kashiprasad Borele is the Financial Creditor and submitted a Resolution Plan.

The Resolution Plan submitted by Kisanrao Kashiprasad Borele was approved by the CoC with 100% voting share.

The Resolution Plan provides for payment of CIRP costs and repayment of debts to creditors.

The NCLT extended the CIRP period by 90 days.

Dhiren Shah was appointed as liquidator of the Corporate Debtor.

The Hon'ble NCLAT allowed the appeal and granted an extension of 60 days from the date of the order which expired on 19.11.2024.

## Issues and analysis

### Issue 1: Whether the Resolution Plan complies with Section …

**Ratio:** Section 30(2) of the IBC outlines the requirements that a resolution plan must meet for

…

**Reasoning:** The Adjudicating Authority must ensure that the resolution plan provides for the payment

…

**Interpretation:** Compliance with Section 30(2) is a prerequisite for the approval of a

…

**Application:** The NCLT found that the Resolution Plan submitted by the applicant complied

…

## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** Ajay G…
- **Respondents:** LATAKISAN…
- **Other parties:** KISANRAO KASHIPRAS…; Prasad Kamalakar…; +1 more
- **Advocates:** Pulkit S…; Harsh Kes…

## Timeline

- **2025-12-16 — Order Pron…**: Order Pronounced on…
- **2023-06-23 — Initiation…**: The CIRP of the Corporate Debtor was initiated…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 30 — Submission of resolution plan](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-30)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclt-mumbai/approval-of-resolution-plan-latakisan-construction-private-limited-e5a4ad30