# Approval of Resolution Plan - Vetshield International Pvt. Ltd.

> NCLT judgment dated 2026-02-03. Citation: TCN-2026-NCLT-00144. The application is filed by the Resolution Professional of Vetshield International Pvt. Ltd.…

- **Court:** NCLT
- **Order date:** 3 Feb 2026
- **Citation:** TCN-2026-NCLT-00144
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/approval-of-resolution-plan-vetshield-international-pvt-ltd-2385f52b

## Summary

### Background

The application is filed by the Resolution Professional of Vetshield International Pvt. Ltd. under Section 30(6) read with Section 31(1) of the Insolvency and Bankruptcy Code, 2016, seeking approval of the Resolution Plan submitted by Medec Infra Private Limited.

## Facts

The Corporate Insolvency Resolution Process (CIRP) commenced upon admission of CP (IB) / 677 (MB) 2024 on 05.02.2025.

Mr. Kshitiz Gupta was appointed as the Interim Resolution Professional (IRP).

The applicant issued a public announcement on 07.02.2025, inviting claims from creditors.

The Committee of Creditors (CoC) was constituted, consisting of Mr. Palak Shah.

Medec Infra Pvt. Ltd. submitted its resolution plan on 18.10.2025, which was approved by the CoC with 100% voting share on 28.10.2025.

Medec Infra Private Limited executed the Letter of Intent on October 30, 2025, and paid the Performance Security on October 31, 2025.

The applicant filed IA (IBC) 3443/2025 against the erstwhile directors of the Corporate Debtor under Section 66 of the Code.

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## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by Medec Infra Private Limited meets the requirements of …

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

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

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**Interpretation:** The Resolution Plan must comply with the provisions of Section 30(2) of the IBC

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**Application:** The Resolution Plan submitted by Medec Infra Private Limited was found to be in

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## Parties

- **Judges:** SH. PRABHAT…; SH. SUSHIL…
- **Appellants:** Mr.CA Kshitiz…
- **Respondents:** Vetshield…
- **Other parties:** Palak…; Guruprasad…; +4 more
- **Advocates:** Pulkit S…

## Timeline

- **2025-02-05 — Initiation…**: Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor commenced upon…
- **2025-02-05 — Appointment…**: Mr. Kshitiz Gupta 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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