# Durga Das Agrawal, RP of MKMG Jewel Developers Private Limited vs. Mr. Bankey Bihari Goyal & Ambrane India Private Limited

> NCLT judgment dated 2026-07-10. Citation: TCN-2026-NCLT-00678. Mr. Durga Das Agrawal, Resolution Professional (RP) of MKMG Jewel Developers Private Limited…

- **Court:** NCLT
- **Order date:** 10 Jul 2026
- **Citation:** TCN-2026-NCLT-00678
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/durga-das-agrawal-rp-of-mkmg-jewel-developers-private-limited-vs-mr-bankey-bihar-cohar

## Summary

### Background

Mr. Durga Das Agrawal, Resolution Professional (RP) of MKMG Jewel Developers Private Limited ('Corporate Debtor'), filed an application (I.A. (PLAN) 29 (ND) of 2024) seeking approval of the Resolution Plan dated 15.04.2024 submitted by Mr. Varun Chopra ('Successful Resolution Applicant/SRA'). The Resolution Plan was unanimously approved by the Committee of Creditors (CoC) in its 21st meeting on 24.05.2024. The Corporate Insolvency Resolution Process (CIRP) was initiated on 12.01.2024. Claims were received from various creditors, including unsecured financial creditors and related parties. Objections to the Resolution Plan were raised by Mr. Bankey Bihari Goyal, Suspended Director, as per a Supreme Court order dated 26.05.2026. These objections pertained to the SRA's

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## Facts

Mr. Durga Das Agrawal, Resolution Professional (RP) of MKMG Jewel Developers Private Limited, filed an application (I.A. (PLAN) 29 (ND) of 2024) seeking approval of the Resolution Plan.

The Resolution Plan, dated 15.04.2024, was submitted by Mr. Varun Chopra ('Successful Resolution Applicant/SRA').

The Committee of Creditors (CoC) unanimously approved the Resolution Plan in its 21st meeting convened on 24.05.2024.

The Corporate Insolvency Resolution Process (CIRP) against MKMG Jewel Developers Private Limited was admitted on 12.01.2024, and Mr. Durga Das Agrawal was appointed Interim Resolution Professional (IRP).

A Public Announcement was made on 09.02.2022.

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## Issues and analysis

### Issue 1: Whether the Resolution Plan submitted by Mr. Varun Chopra complies with the provisions of the …

**Ratio:** The Adjudicating Authority's scope of judicial review under Section 30(2) read with

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**Reasoning:** The Resolution Plan provides for payment of CIRP costs in priority, payment to

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**Interpretation:** Sections 30(2) and 31 of the IBC define the boundaries of the NCLT's review,

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**Application:** The Resolution Plan satisfies all mandatory requirements under Section 30(2) of

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## Parties

- **Judges:** MAHENDRA KHANDELWA…; ATUL CHAT…
- **Appellants:** Durga Das A…
- **Respondents:** MKMG Jewel…; Delicious Coco…; +2 more
- **Other parties:** Committee of…; Prakash Chandra…; +9 more
- **Advocates:** Vipul G…; Shivam G…; +10 more

## Timeline

- **12.01.2022 — CIRP Admi…**: Date of Admission of CIRP against MKMG…
- **08.02.2022 — Order Receipt & CIRP…**: Date of receipt of the order and deemed commencement of CIRP. Also, 27 days exclusion…

## 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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