# In the matter of Vilsons Roofing Product Private Limited

> NCLT judgment dated 2025-08-04. Citation: TCN-2025-NCLT-01269. The case involves an Interlocutory Application (IA) filed by an applicant objecting to the…

- **Court:** NCLT
- **Order date:** 4 Aug 2025
- **Citation:** TCN-2025-NCLT-01269
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-mumbai/vilsons-roofing-product-private-limited-1975cc26

## Summary

### Background

The case involves an Interlocutory Application (IA) filed by an applicant objecting to the Resolution Plan Application. Another IA was filed by Sahyadri Industries Ltd, seeking permission to submit a Resolution Plan and pay the EMD, directing the CoC to consider the plan, and condoning delays in submitting EOI and the plan.

## Facts

An Interlocutory Application was filed objecting to the Resolution Plan Application.

Sahyadri Industries Ltd. filed an IA seeking permission to submit a Resolution Plan, directing the CoC to consider it, and condoning delays.

The Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor commenced on 27.10.2023.

The applicant did not participate in the bidding process initiated through Form 'G'.

The issue before the Bench was whether the applicant could submit a Resolution Plan for value maximization.

The Tribunal referred to Regulation 39(1-B) and Regulation 36-B(7) of IBBI (CIRP) Regulations, 2016.

The Tribunal cited the NCLAT's decision in Jindal Power Limited vs. Dhiren Shantilal Shah.

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## Issues and analysis

### Issue 1: Whether the Applicant can be allowed to submit a Resolution Plan for value maximization of the …

**Ratio:** The Regulations do not permit proposals to be entertained which are not there in the

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**Reasoning:** Allowing unsolicited plans would cause

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**Interpretation:** The Tribunal is bound by the Code and Regulations, which aim to maximize the

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**Application:** The Interlocutory Application was dismissed because the applicant was not in

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## Parties

- **Judges:** Prabhat…; Sushil Mahadeorao…
- **Appellants:** Pegasus Assets…; Sahyadri Industrie…
- **Respondents:** Vilsons Roofing…
- **Advocates:** Atishay…; Rajeev Kumar…; +2 more

## Timeline

- **2023-10-27 — Commencement…**: The Corporate Insolvency Resolution Process against the Corporate Debtor commenced by an…
- **2025-08-04 — Hearing…**: Order sheet of the…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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