Intelligence note
Admitted to insolvency on 13 Aug 2024 by the New Delhi bench, on the company's own application. A resolution plan from Ms. Darshna Rani was approved on 12 Jun 2026, 668 days after admission (median for resolved cases: 627 days). Creditors realise 10.47% of Rs 4.30 Cr admitted claims - a haircut of 89.5% against a median of 77.1% across resolutions.
Case details
CIN
U74999DL2015PTC279333
Incorporated
2015
Registered State
Delhi
NCLT Bench
New Delhi
Petition
(IB) /193/ (ND)/2024
Initiated by
CD — Technicolour Dream Pants Private Limited
Commencement
13 Aug 2024
Outcome Date
12 Jun 2026
Admitted Claims
Rs 4.30 Cr
Liquidation Value
Rs 4.00 L
Fair Value
Rs 44.00 L
Realisable Amount
Rs 45.00 L
Recovery vs Claims
10.47%
Recovery vs LV
11×
NCLT New Delhi: median 524 days admission → verdict · 36% of concluded matters ended in plan approval (n=780, full record) · all benches →
From the plan-approval order
Plan value, as printed
Rs. 86,00,000/- (Rs. Eighty-Six Lakhs only)
Buyer
individual
Market test
1 Form G round · 13 EoIs · 9 plans received · negotiation
Contested
1 condition imposed by the bench
Recent movement
24 Oct 2024
EoI window closed
EoI window closed | 1 round held
24 Oct 2024
Expressions of interest invited
RP: Mr. Rakesh Kumar Jain
12 Jun 2026
Resolution plan approved
Acquired by Ms. Darshna Rani
Haircut 89.53%
Haircut 89.53%
Valuations & recovery
Fair value
Rs 44.00 L
Liquidation value
Rs 4.00 L
Recovery vs fair value
102.27%
Recovery vs liquidation value
11×
liquidation value Rs 0.04 Cr — the ratio is unstable at this scale
liquidation value Rs 0.04 Cr — the ratio is unstable at this scale
The plan
Successful applicant
Ms. Darshna Rani
CoC approval
84.94% voting share
The resolution order · 2026-06-12
Resolution plan approved
U74999DL2015PTC279333 ·
- Technicolour Dream Pants Private Limited
Explore the plan, creditor treatment and Tribunal directions.
Extracted order information; consult the linked order for authoritative wording. OCR and extraction can contain errors.
Read the source order ↗12 sections · All recorded details available below
Plan funding & costs
- Total plan funding, as printed
- Rs. 86,00,000/- (Rs. Eighty-Six Lakhs only)
- Units note
- Several tables referenced in the order (SRA details, Form-H realisable amount, creditor payment/settlement proposal, CIRP cost breakdown, source of funds, term/management/implementation details) render as blank content in this text file - the underlying document appears to embed these as images/tables not captured by OCR/text extraction.
Resolution applicant & funding
- Entity type
- individual
Business & treatment of stakeholders
- Statutory dues
- The GST Department filed a claim of Rs. 78,50,325/-. Income Tax and EPFO were intimated but did not file claims. Detailed payment treatment table (Section 3.iv) renders blank in this text file.
Bidding, professionals & process
- Interim resolution professional
- Rakesh Kumar Jain
- RP replaced the IRP
- No
- Invitations for expressions of interest
- Round no
- 1
- Form g date
- 2024-10-08
- Expressions of interest received
- 13
- Final list count
- 13
- Plans received
- 9
- Outcome
- plan approved
- Applicants considered
- Name
- AKB Ventures Private Limited
- Stage reached
- plan_submitted
- Outcome note
- met CoC in person at the 7th CoC meeting (10.01.2025)
- Name
- BSC Advisors Private Limited
- Stage reached
- plan_submitted
- Outcome note
- met CoC through audio-video conferencing
- Name
- Ms. Sonal Sumit Mehta (Sonal Yogeshbhai Shah)
- Stage reached
- plan_submitted
- Name
- Mr. Amrit Kumar Agarwal
- Stage reached
- plan_submitted
- Outcome note
- met CoC in person at the 7th CoC meeting (10.01.2025)
- Name
- Ms. Darshna Rani
- Stage reached
- approved
- Plan value as printed
- Rs. 86,00,000/- (Rs. Eighty-Six Lakhs only)
- Vote pct
- 84.94
- Outcome note
- revised Resolution Plan dated 14.01.2025 considered most viable and feasible and approved at the 9th CoC meeting (20.02.2025) with 84.94% vote share
- Name
- Himgiri Garments Private Limited
- Stage reached
- plan_submitted
- Outcome note
- met CoC in person at the 7th CoC meeting (10.01.2025)
- Name
- One City Infrastructure Private Limited
- Stage reached
- plan_submitted
- Outcome note
- met CoC in person at the 7th CoC meeting (10.01.2025)
- Name
- Sabrimala Industries Private Limited
- Stage reached
- plan_submitted
- Outcome note
- met CoC through audio-video conferencing (listed as 'Sabrimala Industries India Limited' at meeting minutes reference)
- Name
- Right Advisors Private Limited
- Stage reached
- final_list
- Outcome note
- found viable/feasible along with Ms. Darshna Rani and negotiated/deliberated by CoC in its 6th to 9th meetings; not the plan ultimately approved; met CoC in person at the 7th meeting
- Bidding mechanism
- negotiation
- Evaluation matrix present
- Yes
- Clock events
- Kind
- extension
- Reason
- 180-day CIRP period (commenced 13.08.2024, set to expire 09.02.2025) extended to 11.03.2025 by this Adjudicating Authority under Section 12(2) of the Code
- Advisors
- Role
- Valuer (Securities & Financial Assets category)
- Name
- Mr. Rajan Sahdev (IBBI/RV/02/2020/13217)
- Role
- Valuer (Securities & Financial Assets category)
- Name
- Mr. TVS Siva Prasad (IBBI/RV/04/2022/14767)
- Role
- Valuer (Plant & Machinery)
- Name
- Mr. Sanjeev Kumar Gupta (IBBI/RV/02/2021/13750)
- Role
- Valuer (Plant & Machinery)
- Name
- Mr. Daleep Kumar (IBBI/RV/05/2019/12662)
- Role
- Section 29A due diligence
- Name
- Mr. Manoj Kumar Garg, Advocate
- Note
- Provided due diligence report on Section 29A of the IBC, relied upon by the RP along with the SRA's declaration and RP's own verification.
Composition of the committee
CoC reconstituted on 11.02.2025 consisting of operational creditors; the member list itself is in a table that renders blank in this text file.
Implementation & monitoring
- Effective date definition
- The approved Resolution Plan shall become effective from the date of passing of this Order.
- Monitoring committee
- The Resolution Plan provides that the Monitoring Committee shall consist of members nominated by the SRA on one part and the RP or any other member nominated by the CoC on the other part, the latter to act as chairman of the monitoring committee; the chairman shall be paid a fee of Rs. 1,00,000/- per month during the implementation period. The order directs the Monitoring Committee be set up by the Applicant within 02 days of passing of this order.
- Monitoring committee members
- Name
- Member(s) nominated by SRA
- Role
- member
- Name
- RP or other member nominated by CoC
- Role
- Chairman
Reliefs requested & Tribunal decisions1 entries
- Seq
- 1
- Relief
- (all reliefs, en bloc)
- Disposition
- declined
- Reason
- In the light of the decision of the Hon'ble Supreme Court in Embassy Property Development Private Limited (Supra), as to the waiver, relief and concessions sought in the Resolution Plan, it is clarified that this Adjudicating Authority is not inclined towards granting any such relief prayed for except for what is provided in the Code itself. However, the Successful Resolution Applicant may approach and file the necessary application before the necessary forum/authority in order to avail the necessary relief and concessions, in accordance with respective laws.
Treatment of remaining reliefs
Yes
Section 32A protection
silent
Tribunal findings & conditions
- Conditions imposed
- Condition
- The Successful Resolution Applicant shall, pursuant to the Resolution Plan approved under section 31(1) of the Code, obtain all necessary approvals as may be required under any law for the time being in force within the period as provided for such in that law.
- Addressed to
- SRA
- Approval conditional on external order
- No
- Precedents cited
- Case
- Embassy Property Development Private Limited v. State of Karnataka & Ors., Civil Appeal No. 9170 of 2019
- Proposition
- The resolution professional cannot bypass statutory/public-law forums via Section 60(5); reliefs falling outside the purview of the IBC must be sought before the appropriate forum/authority.
- Case
- K. Sashidhar v. Indian Overseas Bank, (2019) 12 SCC 150
- Proposition
- The Adjudicating Authority's scrutiny of a resolution plan is limited to the matters specified in Section 30(2); the commercial wisdom exercised by financial creditors in voting is not open to AA interference.
- Case
- Committee of Creditors of Essar Steel India Limited vs. Satish Kumar Gupta & Ors., Civil Appeal No. 8766-67 of 2019
- Proposition
- It is the commercial wisdom of the Committee of Creditors which operates to approve the best resolution plan, finally accepted after negotiation with prospective resolution applicants.
- Case
- Jaypee Kensington Boulevard Apartments Welfare Association v. NBCC (India) Limited, (2022) 1 SCC 401
- Proposition
- The Adjudicating Authority's jurisdiction is limited and circumscribed by Sections 30(2) and 31; there is no scope to interfere with or substitute commercial terms of a CoC-approved plan; shortcomings must be sent back to the CoC, not corrected by the AA.
- Case
- Ramkrishna Forgings Limited Vs Ravindra Loonkar, Resolution Professional of ACIL Limited & Anr., Civil Appeal No. 1527/2022 (dated 21.11.2023)
- Proposition
- Reaffirms the Jaypee Kensington principle of limited Adjudicating Authority jurisdiction over CoC-approved resolution plans.
- Judicial observations
- This Authority is neither empowered nor obligated to delve into or evaluate the commercial wisdom of the Committee of Creditors (CoC), which is paramount and binding, provided it aligns with the provisions of the Code. (p.19)
Identity & order dates
- Companies named in the order
- Technicolour Dream Pants Private Limited
- Order date
- 2026-06-12
Further order information
This text file renders several tables from the order as blank content: SRA details (Section 3.i), Form-H realisable amount (Section 3.iii), creditor payment/settlement proposal (Section 3.iv), CIRP cost breakdown (Section 4), source of funds (Section 5), term/management/implementation details (Section 6), post-approval steps (Section 8), statutory compliances (Section 9), and PUFE transactions (Section 10). The underlying document appears to embed these as images/tables not captured by OCR/text extraction; the corresponding fields above are recorded as null per the rule against inferring facts from outside the document.
EoI / Form-G detail
Plan submission by
08 Nov 2024
Case timeline
13 Aug 2024
CIRP commenced
Insolvency proceedings began · NCLT New Delhi
24 Oct 2024
EoI window closed
EoI window closed | 1 round held
24 Oct 2024
Expressions of interest invited
RP: Mr. Rakesh Kumar Jain
12 Jun 2026
Resolution plan approved
Acquired by Ms. Darshna Rani
Haircut 89.53%
Haircut 89.53%
1 year 9 months elapsed · admission → resolution
Company
Legal name
TECHNICOLOUR DREAM PANTS PRIVATE LIMITED
Type
Private · Company limited by shares
Listing
Unlisted
Incorporated
21 Apr 2015
Authorised capital
Rs 1.85 Cr
Paid-up capital
Rs 1.75 Cr
Industry (MCA)
Business Services
ROC
ROC Delhi
Company status
Under CIRP
Registered address
31,Ground Floor, Sadhna Enclave, New Delhi,New Delhi,South Delhi,Delhi,110017-India
Claims filing history
| Creditor class | Claimed | Admitted | Admitted % |
|---|---|---|---|
| Operational creditors (list printed NIL) | Rs 0 | Rs 0 | — |
v4 · latest
as on 11 Feb 2025 · filed by Mr. Rakesh Kumar Jain
v3
as on 13 Nov 2024 · filed by Mr. Rakesh Kumar Jain
v2
as on 04 Oct 2024 · filed by Mr. Rakesh Kumar Jain
v1
as on 03 Sep 2024 · filed by Mr. Rakesh Kumar Jain
Sources, basis and disclaimers → ·
report an error
This case vs Other Services
Haircut89.5%
typical for this sector 78.1% · median of 155
Recovery vs liquidation value11×
typical for this sector 122.0% · median of 148
liquidation value Rs 0.04 Cr — the ratio is unstable at this scale
liquidation value Rs 0.04 Cr — the ratio is unstable at this scale
75% of resolutions in this sector recovered more than their liquidation value — this one did.
Time to resolution668 days
typical for this sector 603 days · median of 160
Size rank in sector#135 of 160
Key parties
Resolution Professional
6 IBBI mandates · 1125% of liquidation value realised across concluded work
IRP at commencement
Rakesh Kumar Jain → · Aug 2024
CIRP initiated by
Technicolour Dream Pants Private Limited CD
Resolution applicant
Ms. Darshna Rani
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