# In the matter of Pankaj Tandon vs. Isolux Corsan India Engineering & Construction Pvt. Ltd.

> NCLAT judgment dated 2025-09-02. Citation: TCN-2025-NCLAT-00474. The appeal was filed against an order dated 12.12.2024 passed by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 2 Sept 2025
- **Citation:** TCN-2025-NCLAT-00474
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/pankaj-tandon-vs-isolux-corsan-india-engineering-construction-pvt-ltd-aa00f77d

## Summary

### Background

The appeal was filed against an order dated 12.12.2024 passed by the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, Chandigarh, which allowed IA No.1308 of 2022 filed by the Liquidator seeking ex-post facto approval/ratification/regularization of criminal complaints against the Ex-management.

## Facts

The Liquidator filed IA No.1308 of 2022 seeking ex-post facto approval/ratification/regularization of criminal complaints filed against the Ex-management.

The Adjudicating Authority allowed the Liquidator's application.

The Appellant argued that the Adjudicating Authority did not provide reasons for granting ex-post facto approval.

The Liquidator was pursuing the amount of refund of Rs.12 Crore which was required to be received by the Corporate Debtor.

The Adjudicating Authority had permitted the Liquidator to pursue all litigations listed in Annexure ‘C-2' and consequential proceedings civil/ criminal.

The Liquidator filed an application IA No.405 of 2021, which was allowed on 28.04.2022.

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in granting ex-post facto approval without providing …

**Ratio:** The Tribunal found that the facts noticed in Para 11(v) of the Adjudicating Authority's

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**Reasoning:** The Tribunal considered the submissions of both parties and the facts on record,

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**Interpretation:** The Tribunal interpreted the Adjudicating Authority's order as providing

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**Application:** The Tribunal applied the facts to the legal principles and concluded that there

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## Parties

- **Judges:** Ashok Bh…; Barun M…
- **Appellants:** Pankaj T…; Liquid…
- **Respondents:** Isolux Corsan…
- **Other parties:** CA Rajeev…
- **Advocates:** Ishita…; Mudas…; +7 more

## Timeline

- **2024-12-12 — Order Da…**: Order passed by the Adjudicating Authority (National Company Law Tribunal), Chandigarh…
- **2022-04-28 — Order Da…**: Order passed in IA No. 405/2021 allowing…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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