Government Challenges NCLT's Rs 900 Crore Resolution Plan for Rolta India

The government disputes the NCLT's approval of a Rs 900 crore resolution plan by Ashdan Properties for Rolta India, arguing only Rs 10 lakh is allocated for government dues against substantial claims. DoT claims a grave miscarriage of justice, requesting NCLAT to revoke the plan and ensure equitable creditor recovery.

The government has moved the appellate tribunal, NCLAT, challenging the National Company Law Tribunal (NCLT) decision that approved a Rs 900 crore resolution plan by Ashdan Properties for Rolta India. The government argues that the resolution plan inadequately addresses government claims, with only Rs 10 lakh allocated against admitted claims of Rs 179.19 crore.

DoT's appeal highlights the allocation as a disproportionate return of just 0.06% of the owed amount, a scenario termed a 'grave miscarriage of justice.' The government has called for the NCLAT to overturn the NCLT's decision, asserting legal non-compliance and inadequate creditor compensation.

The NCLAT bench, led by Chairperson Justice Ashok Bhushan, is set to hear the case in March 2026. The government hopes the tribunal will mandate a revised plan that better addresses statutory and operational creditor concerns, evidencing the significant issues in corporate insolvency resolutions.

(With inputs from agencies.)