CFM ASSET RECONSTRUCTION PVT. LTD. vs MACHINE WORKS (INTERNATIONAL) LTD.

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2025 Supreme(Online)(NCLT) 7978

NATIONAL COMPANY LAW TRIBUNAL
MR. LABH SINGH, J, MS. REKHA KANTILAL SHAH, T
CFM ASSET RECONSTRUCTION PVT. LTD. – Appellant
Versus
MACHINE WORKS (INTERNATIONAL) LTD. – Respondent

Advocates:
For the Appellants/Petitioners: Mr. Shaunak Mitra, Ms. Sannoyee Chakraborty, Ms. Manavii Gupta
For the Respondents: Mr. Santanu Brahma, Mr. Anirban Basu, Mr. Siddhartha Chatterjee, Mr. Abir Lal Ghosh, Mr. Pradeep Sancheti, Mr. Jatan Monga

ORDER

(Heard Through Hybrid Mode)

PER: LABH SINGH, JUDICIAL MEMBER

1. The present interlocutory application bearing IA (IBC) (Plan) No. 30/KB/2025 was filed on 24.9.2025 by CA Shantanu Brahma Resolution Professional ( for short ‘RP’) of Machine Works (International) Limited, the Corporate Debtor (CD) under the provisions of Sections 30 (6) and section 31 of the Insolvency & Bankruptcy Code, 2016 for short ‘IBC Code) read with Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (for short ‘CIRP Regulations’) for approval of the Resolution Plan submitted by Jaik Leasing and Commercial Investment Ltd, the Successful Resolution Applicant (SRA), as approved by the Committee of Creditors (CoC) with 100% vote.

2. Brief facts about Corporate Debtor and CIRP:

2.1 The underlying Company Petition in CP (IB) No. 200/KB/2022 was filed by CFM Asset Reconstruction Pvt Limited against Machine Works (International) Pvt Ltd., the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code 2016 and the Corporate Debtor was admitted in Corporate Insolvency Resolution Process (for short ‘CIRP process’) by this T