# Ashok Kumar Golechha (RP of VAS Infrastructure Limited) vs. Authum Investment and Infrastructure Limited

> NCLT judgment dated 2026-07-07. Citation: TCN-2026-NCLT-00696. Canara Bank initiated Corporate Insolvency Resolution Process (CIRP) against Vas Infrastructure…

- **Court:** NCLT
- **Order date:** 7 Jul 2026
- **Citation:** TCN-2026-NCLT-00696
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/ashok-kumar-golechha-rp-of-vas-infrastructure-limited-vs-authum-investment-and-i-zujzb

## Summary

### Background

Canara Bank initiated Corporate Insolvency Resolution Process (CIRP) against Vas Infrastructure Limited, leading to the appointment of Mr. Ashok Kumar Golechha as the Resolution Professional (RP). A Resolution Plan submitted by Authum Investment and Infrastructure Limited was approved by the Committee of Creditors (CoC). The RP then filed an application with the NCLT for the approval of this plan. Subsequently, Brijesh Haridas Nagar Co-op. Hsg Soc. Ltd. and Deepak Amrutlal Desai & Ors. filed intervention applications, objecting to the inclusion of certain land parcels in the Resolution Plan, asserting their ownership over these properties.

## Facts

Canara Bank filed CP(IB) No. 314/MB/2023 under Section 7 of the Code, leading to the admission of Vas Infrastructure Limited into CIRP on 11.03.2024.

Mr. Ashok Kumar Golechha was appointed Interim Resolution Professional (IRP) and later confirmed as Resolution Professional (RP) for Vas Infrastructure Limited.

Brijesh Haridas Nagar Co-Op. Housing Society Limited challenged the Admission Order before NCLAT, but the challenge was dismissed on 09.12.2024 due to being barred by limitation.

A Resolution Plan submitted by Authum Investment and Infrastructure Limited was approved by 100% voting share in the 18th CoC meeting held on 27.03.2025.

The RP filed I.A. (I.B.C) (Plan) No.41/MB/2025 seeking approval of Authum's Resolution Plan.

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## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by Authum Investment and Infrastructure Limited should be …

**Ratio:** A resolution plan must conform to the requirements of Section 30(2) and 31(1) of the

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**Reasoning:** The NCLT found that the RP made false and misleading representations about the Corporate

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**Interpretation:** The commercial wisdom of the Committee of Creditors is not absolute and is

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**Application:** The Resolution Plan was rejected because the CIRP was tainted by gross

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## Parties

- **Judges:** ASHISH KALIA,…; SANJIV DUTT,…
- **Appellants:** Brijesh Haridas…; Deepak Amrutlal…; +1 more
- **Respondents:** VAS INFRASTRUCTURE…; Authum Investment…
- **Other parties:** Canara…; Jayesh Vinodrai…; +7 more
- **Advocates:** Yahya Bata…; Mahesh Haridas…; +2 more

## Timeline

- **1986-09-26 — Development Rights…**: Haridas Nagar Cooperative Housing Society Ltd. (HNCHSL) granted development rights to…
- **1994-02-11 — Corporate Debtor…**: VAS Infrastructure…

## 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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