# IDBI Bank Limited vs. Simm Samm Hotels Private Limited

> NCLT judgment dated 2026-09-02. Citation: TCN-2026-NCLT-00926. The Corporate Insolvency Resolution Process (CIRP) was initiated against Simm Samm Hotels…

- **Court:** NCLT
- **Order date:** 2 Sept 2026
- **Citation:** TCN-2026-NCLT-00926
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/idbi-bank-limited-vs-simm-samm-hotels-private-limited-hjps8

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) was initiated against Simm Samm Hotels Private Limited. Mr. Harish Kant Kaushik, the Resolution Professional, filed an application for the approval of a Resolution Plan. The Committee of Creditors (CoC) had previously appointed two valuers whose reports were rejected, leading to the appointment of a third valuer. Multiple Expression of Interest (Eol) rounds and a Challenge Mechanism Process were conducted, leading to the submission of several resolution plans. The CoC ultimately approved the plan submitted by the Consortium of Rare Asset Reconstruction Limited and Pacifica (India) Projects Private Limited.

## Facts

IA(PLAN)/12/2025 was filed on 18.01.2025 (refilled on 26.01.2025) by Mr. Sanjay Kumar Mishra, Resolution Professional of Simm Samm Hotels Private Limited.

The application was filed under Section 30(6) read with Section 31 of the Insolvency and Bankruptcy Code, 2016 and Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.

In the 34th meeting of the Committee of Creditors (CoC) held on 06.10.2025, Mr. Harish Kant Kaushik was appointed as the Resolution Professional (RP) of the Corporate Debtor, replacing Mr. Sanjay Kumar Mishra, who had resigned.

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## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by the Consortium of Rare Asset Reconstruction Limited and …

**Ratio:** The Resolution Plan, as approved by the Committee of Creditors (CoC) with 100% voting

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**Reasoning:** The Tribunal, upon perusal of Form-H and other submitted documents, found that the

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**Interpretation:** Compliance with the statutory framework of the IBC and its associated

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**Application:** Given that the Resolution Plan submitted by the Consortium of Rare Asset

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## Parties

- **Judges:** SH. VINAY GOEL…; SH. CHARANJEET…
- **Appellants:** IDBI Bank L…; Harish Kant…; +1 more
- **Respondents:** Simm Samm Hotels…; Union Bank of…
- **Other parties:** Bharat Ka…; Anil Kumar…; +3 more
- **Advocates:** Himanshu V…; Shloka Dikshit…; +1 more

## Timeline

- **2023-04-12 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) of M/s. Simm Samm Hotels Private Limited…
- **2023-04-14 — Public Annou…**: Public announcement in Form A was…

## 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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