# Approval of Resolution Plan - Prabhat Telecom (India) Limited

> NCLT judgment dated 2025-10-16. Citation: TCN-2025-NCLT-01570. The application was filed by Rajendra K Bhuta, the Resolution Professional of Prabhat Telecom…

- **Court:** NCLT
- **Order date:** 16 Oct 2025
- **Citation:** TCN-2025-NCLT-01570
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/approval-of-resolution-plan-prabhat-telecom-india-limited-18a85905

## Summary

### Background

The application was filed by Rajendra K Bhuta, the Resolution Professional of Prabhat Telecom (India) Limited, seeking approval of the Resolution Plan submitted by a consortium of three individuals: Vishwamani Matamani Tiwari, Parag Malde, and Prabha Vishwamani Tiwari.

## Facts

Rajendra K Bhuta, the Resolution Professional, filed an application seeking approval of the Resolution Plan for Prabhat Telecom (India) Limited.

The Resolution Plan was initially approved by 98.15% of the Committee of Creditors (CoC).

SBI, UBI, and BOI, collectively holding 85.37% voting share, withdrew their consent to the Resolution Plan.

The Adjudicating Authority dismissed the Plan Approval Application and directed liquidation of the Corporate Debtor.

The NCLAT set aside the Liquidation Order and directed the Adjudicating Authority to decide the matter afresh.

The Adjudicating Authority directed the erstwhile Resolution Professional to convene a meeting of the Committee of Creditors.

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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 that a resolution plan must

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**Reasoning:** The Adjudicating Authority examined the Resolution Plan and found that it provides for

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**Interpretation:** The Adjudicating Authority interpreted Section 30(2) to require that the

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**Application:** The Adjudicating Authority applied the requirements of Section 30(2) to the

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## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** Rajendra K.…; Esaar (India)…; +1 more
- **Respondents:** M/s. Prabhat…; Prabhat Technologi…; +3 more
- **Other parties:** M/s. Paramount…; State Bank of…; +10 more
- **Advocates:** Shyam Ka…; Nisha…; +1 more

## Timeline

- **2019-10-10 — Initiation…**: CIRP of the Corporate…
- **2019-10-10 — Appointment…**: Mr. Rajendra K. Bhuta was appointed as the…

## 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)

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