The firm advised and represented Donear Industries Limited which challenged the approval of resolution plan of M/s New Ram Traders in the ongoing Corporate Insolvency Resolution Process of F.M. Hammerle Textiles Limited under the provisions of Insolvency and Bankruptcy Code, 2016 (IBC). Donear Industries’ claim arises out of the arbitrary rejection as an H1 bidder in terms of guidelines issued by Indian Banks Association and correspondingly approving the plan of M/s New Ram Traders as a successful Resolution Applicant. This case is significant as a legal issue has been raised by Donear (one of the resolution applicant) against the rejection of Donear by the Committee of Creditors (CoC) based on guidelines of Indian Banks Association, which is being adjudicated by the Hon’ble NCLT.