# Approval of Resolution Plan - Shubhada Tool Industries Private Limited

> NCLT judgment dated 2026-03-24. Citation: TCN-2026-NCLT-00253. The Resolution Professional of Shubhada Tool Industries Private Ltd. filed an application under…

- **Court:** NCLT
- **Order date:** 24 Mar 2026
- **Citation:** TCN-2026-NCLT-00253
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/approval-of-resolution-plan-shubhada-tool-industries-private-limited-aa22b73f

## Summary

### Background

The Resolution Professional of Shubhada Tool Industries Private Ltd. filed an application under Section 30(6) read with Section 31 of the Insolvency and Bankruptcy Code, 2016, seeking approval of the resolution plan submitted by CIAN Agro Industries & Infrastructure Limited.

## Facts

The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (‘CIRP') vide order dated 17.01.2025.

Mr. Atul Rajwadkar was appointed as the Interim Resolution Professional (IRP).

The IRP made a public announcement on 19.01.2025 to invite claims from the creditors.

The Committee of Creditors (‘CoC') was constituted on 05.02.2025, consisting of Cosmos Co-operative Bank Limited.

The Resolution Plan submitted by the CIAN was approved by Committee of Creditors with 100% voting share.

The Applicant issued a Letter of Intent (‘LOI') dated 14.10.2025 to the SRA.

The Resolution Plan has been filed 270 days after the commencement of CIRP.

## Issues and analysis

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

**Ratio:** The Adjudicating Authority must ensure that the Resolution Plan meets the requirements

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**Reasoning:** The Adjudicating Authority examined the Resolution Plan to ensure that it provides for

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**Interpretation:** Section 30(2) sets out the mandatory requirements that a Resolution Plan must

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**Application:** The Adjudicating Authority found that the Resolution Plan complied with Section

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## Parties

- **Judges:** LAKSHMI G…; Hariharan…
- **Appellants:** Atul Rajw…
- **Respondents:** Shubhada Tool…
- **Other parties:** Cosmos Co-operativ…; Vivek God…; +1 more
- **Advocates:** Aakansha…; Shubham J…

## Timeline

- **17.01.2025 — Commencement…**: The Corporate Debtor was admitted into…
- **19.01.2025 — Public Annou…**: The IRP made a public announcement to…

## 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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