# Approval of Resolution Plan - Laxmiramuna Investments Private Limited

> NCLT judgment dated 2025-11-19. Citation: TCN-2025-NCLT-01666. The application was filed by Pankaj Bhattad, the Resolution Professional of Laxmiramuna…

- **Court:** NCLT
- **Order date:** 19 Nov 2025
- **Citation:** TCN-2025-NCLT-01666
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/approval-of-resolution-plan-laxmiramuna-investments-private-limited-1a4aa3d6

## Summary

### Background

The application was filed by Pankaj Bhattad, the Resolution Professional of Laxmiramuna Investments Private Limited, seeking approval of the resolution plan submitted by the consortium of Sandeep Kedia, Ruchi Kedia, and Ravi Agarwal.

## Facts

The Corporate Debtor is Laxmiramuna Investments Private Limited.

The Resolution Professional is Pankaj Bhattad.

The Resolution Plan was submitted by a consortium of Sandeep Kedia, Ruchi Kedia, and Ravi Agarwal.

The CoC approved the Resolution Plan with 100% voting share.

The last date for completion of CIRP was extended to 5th October 2025.

The Resolution Plan includes provisions for payment of CIRP costs, operational creditors, and financial creditors.

The Resolution Applicant has submitted an affidavit stating eligibility under Section 29A of the Code.

The total proposed resolution amount is INR 7,56,00,000.

The Resolution Plan provides for the acquisition of management control of the CD by the Resolution Applicant.

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## Issues and analysis

### Issue 1: Whether the Resolution Plan meets the requirements of Section 30(2) of the Insolvency and …

**Ratio:** Section 30(2) of the IBC outlines the mandatory requirements for a resolution plan to be

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**Reasoning:** The NCLT analyzed the Resolution Plan and found that it provides for payment of

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**Interpretation:** The NCLT interpreted Section 30(2) to ensure that the Resolution Plan

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**Application:** The NCLT applied Section 30(2) to the facts of the case and concluded that the

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## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** Pankaj Bh…
- **Respondents:** Laxmiramuna…
- **Other parties:** Disha Land…; Krishkan Investmen…; +2 more
- **Advocates:** KunalKa…; Jesal S…

## Timeline

- **2025-01-02 — Initiation…**: CIRP was initiated against…
- **2025-01-02 — Appointment…**: Pankaj Bhattad was appointed 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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