# In the matter of C. Satyanarayana Vs. Sri Vasudevan, R.P. & Anr.  CA(AT)(Insolvency) No. 87-2019

> NCLAT judgment dated 2019-05-01. Citation: TCN-2019-NCLAT-00603. The appeal was preferred by Mr. C. Satyanarayana, claiming to be an Operational Creditor,…

- **Court:** NCLAT
- **Order date:** 1 May 2019
- **Citation:** TCN-2019-NCLAT-00603
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/c-satyanarayana-vs-sri-vasudevan-rp-anr-ca-a161648a

## Summary

### Background

The appeal was preferred by Mr. C. Satyanarayana, claiming to be an Operational Creditor, against an order dated 26th November 2018, passed by the Adjudicating Authority (National Company Law Tribunal), Chennai Bench. The Adjudicating Authority rejected the Appellant's prayer to allow the Arbitral Proceeding to resume for completion and enable the Arbitrator to make an award.

## Facts

Mr. C. Satyanarayana, claiming to be an Operational Creditor, filed an appeal against the Adjudicating Authority's order dated 26th November 2018, which rejected his prayer to resume an arbitral proceeding. The arbitral proceeding was pending since 2012. The Appellant had filed a claim, and the Corporate Debtor had filed a counter-claim. The Respondent's counsel submitted that a resolution plan had been approved by the Committee of Creditors and placed before the Adjudicating Authority for approval under Section 31. The key facts are the pending arbitral proceeding, the existence of a resolution plan under consideration, and the Appellant's status as an Operational Creditor.

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority's order rejecting the resumption of the arbitral proceeding was …

**Ratio:** The court has the power to direct the Adjudicating Authority to consider the resolution

…

**Reasoning:** The court considered the submission that a resolution plan had been approved by the

…

**Interpretation:** This issue involves interpreting the powers of the Adjudicating Authority under

…

**Application:** The court applied the ratio by directing the Adjudicating Authority to consider

…

## Parties

- **Judges:** S.J. Mukhop…; A.I.S. C…; +1 more
- **Appellants:** C. Satyana…
- **Respondents:** Vasudevan…
- **Advocates:** P. V. Yoge…; Babul K…; +3 more

## Timeline

- **2018-11-26 — Order by Adjudicating…**: The Adjudicating Authority (National Company Law Tribunal), Chennai Bench, passed an…
- **2019-05-01 — Appeal Pre…**: Mr. C. Satyanarayana preferred an appeal…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 31 — Approval of resolution plan](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-31)

---

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-new-delhi/c-satyanarayana-vs-sri-vasudevan-rp-anr-ca-a161648a