# In the matter of Regen Infrastructure and Services
Private Limited Vs.
Regen Powertech Private Limited & 2 Ors. (Company Appeal (AT)(Ins) No. 791 of 2020)

> NCLAT judgment dated 2022-08-02. Citation: TCN-2022-NCLAT-00311. The case involves a Company Appeal filed against an order by the Adjudicating Authority…

- **Court:** NCLAT
- **Order date:** 2 Aug 2022
- **Citation:** TCN-2022-NCLAT-00311
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/regen-infrastructure-and-services-private-limited-vs-regen-powertech-private-lim-6d084dad

## Summary

### Background

The case involves a Company Appeal filed against an order by the Adjudicating Authority (National Company Law Tribunal, Division Bench – II, Chennai) in IA(IBC)1082(CHE)/2021 in IBA/1424/2019. The Adjudicating Authority had approved a Resolution Plan for Regen Powertech Private Limited on 01.02.2022 and dismissed IA(IBC)1082(CHE)/2021, which sought to prevent the termination of a long-term lease and the handover of demised properties. The appellant, Regen Infrastructure and Services Private Limited, challenged this dismissal, arguing that the Resolution Plan's approval did not address the lease termination issue.

## Facts

Regen Infrastructure and Services Private Limited (RISPL) filed a Company Appeal against the 'impugned order' of 'dismissal' passed by the 'Adjudicating Authority' (National Company Law Tribunal, Division Bench – II, Chennai) in IA(IBC)1082(CHE)/2021 in IBA/1424/2019. The 'Adjudicating Authority' had approved the 'Resolution Plan' for Regen Powertech Private Limited (RPPL) on 01.02.2022. The IA(IBC)1082(CHE)/2021 sought to direct the 'Resolution Professional' of RPPL not to terminate the 'Long Term Lease' and hand over the 'Demised Properties' covered in 'Lease Deeds' dated 28.03.2017 and 05.06.2017. RPPL had also filed applications under Section 45 read with Section 49 of the Insolvency & Bankruptcy Code to set aside the 'Leases'. The 'Corporate Insolvency

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## Issues and analysis

### Issue 1: Whether the approval of the Resolution Plan by the Adjudicating Authority renders the Company …

**Ratio:** The approval of a Resolution Plan under the Insolvency and Bankruptcy Code typically

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**Reasoning:** The Tribunal reasoned that the approval of the Resolution Plan addressed the core issues

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**Interpretation:** The interpretation is that once a Resolution Plan is approved, it takes

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**Application:** In this case, the approval of the Resolution Plan for Regen Powertech Private

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## Parties

- **Judges:** M. Venu…; Kanthi Na…; +1 more
- **Appellants:** Regen Infrastructu…
- **Respondents:** Regen Powertech…

## Timeline

- **2022-01-02 — Resolution Plan…**: The 'Adjudicating Authority' approved the 'Resolution Plan' for 'Regen Powertech Private…
- **2022-06-01 — Impugned Ord…**: Date of the Impugned Order in IA/1275/IB/2020 in IBA/1099/2019 along with…

## 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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