ORDER

1. This is an Application filed under Section 30 (6) and Section 31 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the “Code”) filed by the Resolution Professional of Broadband Pacenet (India) Private Limited (hereinafter referred to as “Corporate Debtor” seeking approval of the Resolution Plan submitted by a M/s Marwari Media Corporation Private Limited (the Successful Resolution Applicant) (SRA). The Resolution Plan submitted by the Successful Resolution Applicant was approved by 78% of the members of the Committee of Creditors of the Corporate Debtor (hereinafter referred to as “CoC”) at the 11^th CoC meeting held on 10th January 2023.

2. Factual Background of the Corporate Debtor

1. Before proceeding to the evaluation of the Plan, as to its compliance with Section 30 (2) of IBC, it is necessary to set out the factual matrix of the Corporate Debtor.

2. The Financial Creditor i.e., Reliance Commercial Finance Limited filed a Company Petition bearing no: 4001 of 2019 a