NCLT Kochi Approves Associated Alcohols' Resolution Plan For SDF Industries Revival

The National Company Law Tribunal at Kochi on Thursday approved a resolution plan submitted by Associated Alcohols & Breweries Limited for the revival of SDF Industries Limited.

A coram of Judicial Member Vinay Goel allowed the application filed by the Resolution Professional of SDF Industries, noting that the plan had been approved by the Committee of Creditors with a 100% voting share and complied with all statutory requirements.

The Corporate Insolvency Resolution Process against SDF Industries was initiated in April 2025 upon an insolvency petition by Mudali Associates, an operational creditor. During the process, multiple resolution plans were invited and evaluated. Subsequently, the CoC approved the plan submitted by Associated Alcohols & Breweries Limited as the “most viable and feasible plan” for the revival of SDF Industries.

Associated Alcohols is a company engaged in the manufacture of alcoholic beverages, whose shares are listed on the Bombay Stock Exchange and the National Stock Exchange.

The approved plan provides for payment of CIRP costs, full settlement of dues of workmen, employees, operational creditors, financial creditors, and statutory authorities, and envisages infusion of funds and restructuring of share capital. Pursuant to the plan, SDF Industries will become a wholly owned subsidiary of Associated Alcohols.

The Tribunal observed that no objection had been raised against the resolution plan and the same was unanimously approved by the CoC.

Examining the resolution plan, the Tribunal held:

“this Adjudicating Authority is satisfied and note that the Resolution Plan submitted by M/s Associated Alcohols & Breweries Limited is in accordance with Sections 30 and 31 of the Code and also complies with Regulations 38 and 39 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.”

Finding that the plan met all statutory requirements and no objections were pending, the Tribunal approved the plan.

“In case of non-compliance with this order or withdrawal of the Resolution Plan, the CoC shall forfeit the Performance Bank Guarantee amount already paid by the SRA.” it clarified

Accordingly, the application was allowed.

For Applicant: Advocate AC Venugopal

Resolution Professional: Ramachandran Thekkumkat Madathil