Ajay Gupta vs Latakisan Construction Private Limited

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2025 Supreme(Online)(NCLT) 8290

NATIONAL COMPANY LAW TRIBUNAL
Prabhat Kumar, Hon’ble Member (Technical), Sushil Mahadeorao Kochey, Hon’ble Member (Judicial)
Ajay Gupta – Appellant
Versus
Latakisan Construction Private Limited – Respondent

Advocates:
For the Resolution Professional: Adv. Pulkit Sharma, Adv. Harsh Kesharia

ORDER

1. The Resolution Professional of Latakisan Construction Private Limited (“Corporate Debtor”), Mr. Ajay Gupta (“Resolution Professional” / “Applicant”), has filed an Application bearing IA (IBC) (PLAN) No. 123/2025 in CP(IB) No. 860/2022 seeking approval of Resolution Plan dated 15.10.2024, submitted by the Successful Resolution Applicant, Shri Kisan Kashiprasad Borele (“SRA”) in terms of Section 31 of the Insolvency and Bankruptcy Code, 2016 (“Code”) after the approval of Committee of Creditors (“CoC”) of the Corporate Debtor with 100% at the 12^th CoC meeting dated 07.11.2024.

2. The CIRP of the Corporate Debtor was initiated vide this Tribunal’s order dated 23.06.2023 and Mr. Prasad Kamalakar Dharap was appointed as the Interim Resolution Professional (“IRP”).

3. As per regulation 6 of the CIRP Regulations, the Applicant made a public announcement vide Form A on 13.07.2024 notifying the commencement of CIRP of the Corporate Debtor and inviting the claims of Creditors. The last date of submitting the claims was 26.07.2023. Pursuant to publication of Form A the IRP collated and compiled the list of claims and constituted the Committee of Creditors (“CoC”) on 27.07.2023.

4. The