# In the matter of M.K. Rajagopalan vs. S. Rajendran & Ors. IA No. 215 of 2023 in Company Appeal (AT) (CH) (INS) No. 58 of 2023

> NCLAT judgment dated 2023-03-17. Citation: TCN-2023-NCLAT-00667. The case involves an appeal against an order dated 03.02.2023 passed by the National Company…

- **Court:** NCLAT
- **Order date:** 17 Mar 2023
- **Citation:** TCN-2023-NCLAT-00667
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/mk-rajagopalan-vs-s-rajendran-ors-ia-no-215-of-2023-in-company-appeal-07581ae7

## Summary

### Background

The case involves an appeal against an order dated 03.02.2023 passed by the National Company Law Tribunal (NCLT), Division Bench – I, Chennai, in IA (IBC)/288(CHE)/2022 in CA/1/IB/2017. The NCLT order approved a resolution plan submitted by the 2nd Respondent. The Appellant, M.K. Rajagopalan, filed IA No. 215 of 2023 seeking permission to appeal the NCLT's order, arguing that as a prospective resolution applicant, he has a vested interest and suffered due to the resolution process. He had previously objected to the resolution plan and filed IA No. 507 of 2022, which was dismissed.

## Facts

M.K. Rajagopalan, the Appellant, filed an appeal against an order dated 03.02.2023 passed by the National Company Law Tribunal (NCLT), Chennai, which approved a resolution plan submitted by the 2nd Respondent, ASG Hospital Private Ltd. The resolution plan pertained to Vasan Health Care Pvt. Ltd. (VHCPL), the Corporate Debtor. Rajagopalan, an unsuccessful resolution applicant, sought permission to appeal, claiming a vested interest and suffering due to the resolution process. He had previously objected to the resolution plan via IA No. 507 of 2022, which was dismissed. The 2nd Respondent's resolution plan was approved by approximately 97% of the Committee of Creditors. The 1st Respondent, S. Rajendran, is the Resolution Professional. The Appellant argued that he is a

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## Issues and analysis

### Issue 1: Whether the Appellant, being an unsuccessful resolution applicant, has the locus standi to …

**Ratio:** An unsuccessful resolution applicant generally lacks the locus standi to challenge the

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**Reasoning:** The court reasoned that an unsuccessful resolution applicant does not fall within the

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**Interpretation:** The interpretation of 'Stakeholder' and 'Aggrieved Person' under the IBC is

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**Application:** In this case, the Appellant's status as an unsuccessful resolution applicant

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## Parties

- **Judges:** M. Venu…; Shreesha…
- **Appellants:** M.K. Rajag…
- **Respondents:** Vasan Health Care…; S. RAJE…
- **Advocates:** P.H. Arvindh…; K. Chandr…; +5 more

## Timeline

- **2023-02-03 — NCLT Ord…**: The National Company Law Tribunal (NCLT), Chennai, passed an order approving the…
- **2023-01-01 — IA No. 215 of 2…**: M.K. Rajagopalan filed IA No. 215 of 2023…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 31(1) — Approval of resolution plan](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-31)

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