# Approval of Resolution Plan - Reliance Innoventures Private Limited

> NCLT judgment dated 2026-01-06. Citation: TCN-2026-NCLT-00006. The case pertains to the approval of a resolution plan for Reliance Innoventures Private…

- **Court:** NCLT
- **Order date:** 6 Jan 2026
- **Citation:** TCN-2026-NCLT-00006
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/approval-of-resolution-plan-reliance-innoventures-private-limited-6cfe81bb

## Summary

### Background

The case pertains to the approval of a resolution plan for Reliance Innoventures Private Limited, a corporate debtor undergoing Corporate Insolvency Resolution Process (CIRP) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The resolution plan was submitted by Sagacious Capital Private Limited.

## Facts

CIRP was initiated against Reliance Innoventures Private Limited on 15.06.2023.

Bhrugesh Amin was appointed as the Interim Resolution Professional (IRP).

Public announcement was made on 17.06.2023, inviting creditors to submit their claims.

Harish Kant Kaushik was appointed as the Resolution Professional (RP) on 22.08.2023.

Sagacious Capital Private Limited submitted a resolution plan, which was approved by the CoC with 100% voting share on 13.07.2024.

The resolution plan was initially remanded to the CoC for reconsideration on 03.06.2025, but this order was set aside by the NCLAT on 29.07.2025.

The outstanding CIRP cost as on 28.10.2025 is ₹4,35,32,607.

The total resolution plan amount is ₹110.10 Crores.

An amount of ₹1 Crore was deposited as Earnest Money Deposit.

…

## Issues and analysis

### Issue 1: Whether the Resolution Plan …

**Ratio:** The Hon'ble Supreme Court has held that the Adjudicating Authority's role is confined to

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**Reasoning:** The Tribunal assessed the Resolution Plan against the criteria laid down in Section

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**Interpretation:** The Adjudicating Authority has limited jurisdiction in interfering with the

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**Application:** The Tribunal found that the Resolution Plan satisfied the requirements of

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## Parties

- **Judges:** Mohan Prasad…; Charanjeet Singh…
- **Appellants:** J.C. Flowers…; Harish Kant…
- **Respondents:** Reliance Innoventu…
- **Other parties:** J.C. Flower Asset…; Housing Developmen…; +3 more
- **Advocates:** Sakil A…; Gaurav…; +4 more

## Timeline

- **2023-06-15 — Initiation…**: CIRP initiated against Reliance…
- **2023-06-17 — Public Annou…**: Public announcement made,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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