# In the matter of M.P. Industrial Development Corporation Vs. Mr. Jagdish Parulkar & Ors. Company Appeal(AT)(Insolvency) No. 1041 of 2020

> NCLAT judgment dated 2021-07-29. Citation: TCN-2021-NCLAT-00162. The appeal was filed by M.P. Industrial Development Corporation under Section 61 of the…

- **Court:** NCLAT
- **Order date:** 29 Jul 2021
- **Citation:** TCN-2021-NCLAT-00162
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/mp-industrial-development-corporation-vs-mr-jagdish-parulkar-ors-company-appeal-df3ccfc1

## Summary

### Background

The appeal was filed by M.P. Industrial Development Corporation under Section 61 of the Insolvency and Bankruptcy Code, 2016, against the order dated 05.03.2020 passed by the Adjudicating Authority (National Company Law Tribunal), Indore Bench, Ahmedabad in I.A No. 181/NCLT/AHM/2019 in CP(IB) No.131/9/ NCLT/АНМ/2018. The appellant raised concerns regarding unpaid lease rent and maintenance bills for the year 2019-2020, amounting to Rs. 5,41,142/-, and a water bill dated 07.02.2020, amounting to Rs.11,52,646/-, by the Corporate Debtor/RP.

## Facts

M.P. Industrial Development Corporation filed an appeal against the order dated 05.03.2020 passed by the Adjudicating Authority (National Company Law Tribunal), Indore Bench, Ahmedabad. The Appellant claimed that their lease rent and maintenance bill for the year 2019-2020 amounting to Rs. 5,41,142/- with interest and water bill dated 07.02.2020 amounting to Rs.11,52,646/- has not been cleared by the Corporate Debtor / Resolution Professional (RP). The 'Adjudicating Authority' has approved the ‘Resolution Plan' vide its order dated 05.03.2020 duly approved by ‘Committee of Creditors' (CoC) with 100% voting. The RP has submitted the compliance report before the 'Adjudicating Authority' which is appearing on para 14 of the impugned order. The Adjudicating Authority'

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in approving the Resolution Plan without considering the …

**Ratio:** The Insolvency and Bankruptcy Code, 2016, along with the IBBI (Insolvency Resolution

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**Reasoning:** The Adjudicating Authority approved the Resolution Plan based on the compliance report

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**Interpretation:** The interpretation of the Code and Regulations determines whether the

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**Application:** The court determined that the Resolution Applicant is liable to pay the

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## Parties

- **Judges:** Ashok Kumar…; Jarat Kuma…
- **Appellants:** M.P. Industrial…
- **Respondents:** Madhya Pradesh…; Jagdish Pa…
- **Advocates:** Abhinav Sri…; Nirmal P…; +2 more

## Timeline

- **2007-07-18 — Lease Agr…**: Lease Agreement entered into between the…
- **2018-09-09 — Insolvency P…**: Insolvency petition was admitted…

## 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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