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

> NCLAT judgment dated 31 Aug 2023. Citation: TCN-2023-NCLAT-00237. This case involves a series of appeals challenging a common impugned order dated November 1,…

- **Court:** NCLAT
- **Order date:** 31 Aug 2023
- **Citation:** TCN-2023-NCLAT-00237
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/giriraj-enterprises-vs-regen-powertech-private-limited-ors-6b9d7158

## Summary

### Background

This case involves a series of appeals challenging a common impugned order dated November 1, 2021, passed by the Adjudicating Authority (National Company Law Tribunal, Chennai Bench). The Adjudicating Authority had dismissed applications seeking consolidation of the Corporate Insolvency Resolution Processes (CIRPs) of two companies, Regen Powertech Private Limited (RPPL) and Regen Infrastructure and Services Private Limited (RISPL). The appellants, who are customers and creditors of these companies, sought consolidation on the grounds that RPPL and RISPL are a single economic unit with intertwined businesses, common control, and interlinked finances, and that consolidation would maximize asset value and ensure the companies' revival. The Adjudicating Authority,

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## Facts

Giriraj Enterprises, the appellant in Company Appeal (AT) (CH) (Ins) No. 323/2021, entered into various supply agreements with Regen Powertech Private Limited (RPPL) for wind turbine generators. RPPL supplied three wind turbines, after which Giriraj Enterprises entered into an Operation and Maintenance (O&M) Agreement with Regen Infrastructure and Services Private Limited (RISPL) on October 12, 2018, for a period of 10 years. RPPL is the exclusive license holder for producing and selling Vensys Wind Turbines in India, having obtained the license from Vensys AG, the owner of the design and copyright.

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## Issues and analysis

### Issue 1: Whether the appellants, being purchasers of goods and services or decree holders, qualify as…

**Ratio:** A claimant who has made advance payments for goods or services from a corporate debtor,…

**Reasoning:** The Adjudicating Authority had incorrectly concluded that the appellants were not…

**Interpretation:** The NCLAT interpreted 'Operational Creditor' and 'Operational Debt' broadly, in…

**Application:** Applying this interpretation, the NCLAT found that the appellants, who were…

## Parties

- **Judges:** M. Venu…; Shreesha…
- **Advocates:** For the appellant:…; A. Vidya, A…; +10 more

## Timeline

- **December 9, 2019 — RPPL admitted…**: Regen Powertech Private Limited (RPPL) was admitted into the Corporate Insolvency…
- **December 20, 2019 — Claim filed by Giriraj…**: Giriraj Enterprises filed its claim in…

## 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)

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