# In the matter of Giriraj Enterprises & Ors. vs. Regen Powertech Private Ltd. & Ors.

> NCLAT judgment dated 2023-08-31. Citation: TCN-2023-NCLAT-00235. The document pertains to a series of Company Appeals (AT) (CH) (INS) filed under Section 61…

- **Court:** NCLAT
- **Order date:** 31 Aug 2023
- **Citation:** TCN-2023-NCLAT-00235
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/giriraj-enterprises-ors-vs-regen-powertech-private-ltd-ors-7ca20a01

## Summary

### Background

The document pertains to a series of Company Appeals (AT) (CH) (INS) filed under Section 61 of the Insolvency and Bankruptcy Code, 2016, challenging the Impugned Order dated 01/02/2022 passed by the National Company Law Tribunal (NCLT), Chennai Bench, in various IA(IBC) applications related to IBA/1099/2019. These appeals involve multiple parties, including Giriraj Enterprises, GAIL (India) Limited, Echanda Urja Private Limited, L&T Infra Investments Partners, Asset Reconstruction Company (India) Limited, and Regen Infrastructure and Services Pvt. Ltd., as Appellants, and Regen Powertech Private Limited, its Resolution Professional, Committee of Creditors, and Renew Power Services Private Limited as Respondents. The appeals challenge the approval of a Resolution

…

## Facts

The core facts involve multiple Company Appeals filed against the Impugned Order dated 01/02/2022, which approved a Resolution Plan for Regen Powertech Private Limited (RPPL). The appeals were filed under Section 61 of the Insolvency and Bankruptcy Code (IBC). Several Appellants, including Giriraj Enterprises, GAIL (India) Limited, Echanda Urja Private Limited, L&T Infra Investments Partners, and Asset Reconstruction Company (India) Limited, raised objections to the approval of the Resolution Plan. These objections included alleged violations of Section 31(4) of the Code, failure to obtain mandatory approval from the Competition Commission of India (CCI), and improper treatment of certain creditors. L&T Infra Investment Partners claimed they had submitted their

…

## Issues and analysis

### Issue 1: Whether the Adjudicating Authority (NCLT) erred in approving the Resolution Plan without properly …

**Ratio:** The ratio is based on the principle that the Adjudicating Authority must properly

…

**Reasoning:** The NCLAT reasoned that the objections raised by the Appellants were not adequately

…

**Interpretation:** This issue involves the interpretation of the procedural requirements under the

…

**Application:** In this specific case, the NCLAT found that the Adjudicating Authority did not

…

## Parties

- **Judges:** M. Venu…; Shreesha…
- **Appellants:** Giriraj Enterprise…
- **Respondents:** Regen Powertech…; M/s Regen…
- **Advocates:** Abhijeet…; P.H. Arvindh…; +5 more

## Timeline

- **2019-10-01 — IBA 1099…**: The initial application related…
- **2019-12-27 — Claim Submissi…**: L&T Infra Investment…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

---

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/giriraj-enterprises-ors-vs-regen-powertech-private-ltd-ors-7ca20a01