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NATIONAL COMPANY LAW TRIBUNAL
DR. VENKATA RAMAKRISHNA BADARINATH NANDULA, J, SH. CHARAN SINGH, T
Stressed Assets Stabilisation Fund – Appellant
Versus
Terrygold (India) Ltd – Respondent
| Table of Content |
|---|
| 1. approval of resolution plan by creditors. (Para 1) |
| 2. compliance with ibc requirements. (Para 3 , 4 , 5 , 6) |
| 3. limited judicial review in insolvency. (Para 8 , 9 , 10) |
| 4. final approval of resolution plan and binding nature. (Para 11 , 12 , 13) |
ORDER
1. The present Application is filed by Shri Ramakrishnan Sadasivan (“Resolution Professional” / “Applicant”), the Resolution Professional of M/s Terrygold (India) Limited (“Corporate Debtor”), under Sections 30 (6) and 31(1) of the Insolvency and Bankruptcy Code, 2016 (“Code”) read with Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (“CIRP Regulations”), seeking the approval of the resolution plan of M/s CVK Technologies Pvt. Ltd. (“Successful Resolution Applicant”).
2.1 To put precisely, this Tribunal admitted the Company Petition filed by Stressed Assets Stabilization Fund, Mumbai under Section 7 of IBC and ordered commencement of CIRP against the Corporate Debtor on 31.03.2023 and appointed the Applicant herein as Interim Resolution Professional.
2.2 The Interim Resolution Professional in compliance with Regulation 6 made Public
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