# TSN Raja vs. Adjudicating Authority (NCLT)

> NCLAT judgment dated 2026-05-27. Citation: TCN-2026-NCLAT-00212. TSN Raja, the Interim Resolution Professional (IRP) for M/s. Panduranga Energy Systems Pvt.…

- **Court:** NCLAT
- **Order date:** 27 May 2026
- **Citation:** TCN-2026-NCLAT-00212
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-chennai/tsn-raja-vs-adjudicating-authority-8dtmr

## Summary

### Background

TSN Raja, the Interim Resolution Professional (IRP) for M/s. Panduranga Energy Systems Pvt. Ltd. and M/s. GMP Infrastructure Private Limited, challenged two interlocutory orders dated 16.04.2026 passed by the Adjudicating Authority (NCLT). These orders remitted the matter back to the Committee of Creditors (CoC) with a direction to consider observations made by the NCLT in a previous case (VNR Infrastructure Limited) regarding the appellant's conduct as Liquidator, before approving his appointment as Resolution Professional (RP). The CoC had already approved his appointment as RP with 100% voting on 05.03.2026.

## Facts

TSN Raja is the Interim Resolution Professional (IRP) for M/s. Panduranga Energy Systems Pvt. Ltd. and M/s. GMP Infrastructure Private Limited.

TSN Raja challenged impugned orders dated 16.04.2026, passed by the Adjudicating Authority (NCLT).

The impugned orders were rendered on IA (IBC) / 588 / 2026 (in CP (IB) / 304 / 7 / HDB / 2022) and IA (IBC) / 589 / 2026 (in CP (IB) / 306 / 7 / HDB / 2022).

The NCLT orders were interlocutory, remitting the matter back to the Committee of Creditors (CoC).

The CoC was directed to consider observations made by the NCLT in orders dated 27.05.2025 & 25.02.2026 in IA No. 742 / 2021 (in CP (IB) / 12 / 10 / HDB / 2017) concerning VNR Infrastructure Limited and the appellant's conduct as Liquidator.

…

## Issues and analysis

### Issue 1: Whether the impugned orders of the Adjudicating Authority, remitting the matter back to the CoC to …

**Ratio:** The Adjudicating Authority's orders, which are interlocutory and precautionary, directing

…

**Reasoning:** The NCLT's orders were not a final decision but an interlocutory direction to the CoC to

…

**Interpretation:** The NCLAT interpreted the NCLT's orders as precautionary and interlocutory, not

…

**Application:** The NCLAT applied this interpretation to dismiss the appeals, stating that the

…

## Parties

- **Judges:** Sharad Kumar…; Jatindranath…
- **Appellants:** T.S.N.…
- **Respondents:** M/s. Panduranga…; M/s. GMP Infrastru…; +1 more
- **Other parties:** Committee of…
- **Advocates:** T. Ravich…

## Timeline

- **2025-05-27 — NCLT Order in VNR…**: Learned Tribunal passed an order in IA No. 742 / 2021 in CP (IB) / 12 / 10 / HDB / 2017…
- **2026-02-05 — Appellant appointed as…**: Appellant (TSN Raja) appointed as Interim Resolution Professional after CIRP commenced…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-chennai/tsn-raja-vs-adjudicating-authority-8dtmr