# Approval of Resolution Plan - Sinnar Thermal Power Limited

> NCLT judgment dated 2025-11-28. Citation: TCN-2025-NCLT-01777. An application was filed by Mr. Rahul Jindal, the Resolution Professional (RP) of M/s. Sinnar…

- **Court:** NCLT
- **Order date:** 28 Nov 2025
- **Citation:** TCN-2025-NCLT-01777
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/approval-of-resolution-plan-sinnar-thermal-power-limited-4f1a01d0

## Summary

### Background

An application was filed by Mr. Rahul Jindal, the Resolution Professional (RP) of M/s. Sinnar Thermal Power Limited, seeking approval of the Resolution Plan under Section 30(6) and 31(1) of the Insolvency and Bankruptcy Code, 2016. The application was filed in respect of M/s. Sinnar Thermal Power Limited.

## Facts

An application under Section 9 of the IBC was filed by Shapoorji Pallonji & Co. Private Limited against Sinnar Thermal Power Limited, which was admitted on 19.09.2022.

Adarsh Sharma was appointed as the Interim Resolution Professional (IRP) of the Corporate Debtor.

The Admission Order dated 19.09.2022 was challenged before the NCLAT, but the appeal was dismissed on 19.01.2024, reviving the CIRP.

The Committee of Creditors (CoC) was constituted, with members including Power Finance Corporation Limited, REC Limited, Bank of India, Axis Bank Limited, Punjab National Bank, Canara Bank, and LIC Corporation of India.

Rahul Jindal was appointed as the Resolution Professional (RP) for conducting the CIRP of the Corporate Debtor.

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority is empowered to interfere with the commercial wisdom of the …

**Ratio:** The Adjudicating Authority's discretion is circumscribed by Section 31 and limited to

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**Reasoning:** The Hon'ble Supreme Court has held that it is the commercial wisdom of the Committee of

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**Interpretation:** The Adjudicating Authority cannot substitute its own commercial wisdom for that

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**Application:** The Adjudicating Authority is duty-bound to follow the judgment of the Hon'ble

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## Parties

- **Judges:** MANNI SANKARIAH…; ATUL CHAT…
- **Appellants:** Rahul J…
- **Respondents:** Sinnar Thermal…; Committee of…; +1 more
- **Other parties:** Power Finance…; REC Lim…; +6 more
- **Advocates:** Abhinav V…; Bishwajit…; +7 more

## Timeline

- **2019 — CIRP Init…**: C.P. No. IB-2561/(ND)/…
- **2022-09-19 — Admission of Ap…**: Application under Section 9 of IBC filed by Shapoorji Pallonji & Co. Private Limited was…

## 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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