# In the matter of Techengg Project Services & Equipments (I) Pvt. Ltd. vs. Jayesh Sanghrajka & Anr. Company Appeal (AT) (Ins) No. 227 of 2021

> NCLAT judgment dated 2022-09-05. Citation: TCN-2022-NCLAT-00237. The case involves an appeal against an order dated 07.01.2021 passed by the Adjudicating…

- **Court:** NCLAT
- **Order date:** 5 Sept 2022
- **Citation:** TCN-2022-NCLAT-00237
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/techengg-project-services-equipments-i-pvt-ltd-vs-jayesh-sanghrajka-anr-company-286966d2

## Summary

### Background

The case involves an appeal against an order dated 07.01.2021 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench, Mumbai) in IA No.500/2020 in CP No.2714/2018. The Adjudicating Authority rejected the interlocutory petition filed by the Appellant. The appellant, Techengg Project Services & Equipments (I) Pvt Ltd, had previously filed a petition under Section 7 of the IBC against Ariisto Developers Pvt Ltd (Respondent No.2) for initiating Corporate Insolvency Resolution Process (CIRP) due to non-payment of corporate debt. However, before admission of the petition, an agreement was entered into between the Appellant and the Corporate Debtor based on Consent Terms executed on 19th July, 2018, leading to the withdrawal of the petition.

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## Facts

Techengg Project Services & Equipments (I) Pvt Ltd (Appellant) filed an application against Jayesh Sanghrajka & Anr (Respondent), who is the Resolution Professional of Ariisto Developers Pvt. Ltd. (Corporate Debtor). The Appellant had previously filed a Section 7 IBC petition against Ariisto Developers for a debt of Rs. 10 crores plus Rs. 4 crores interest. Before admission, a consent agreement was reached on July 19, 2018, with Rs. 10 crores paid upfront and Rs. 2 crores to be paid later. The initial petition was withdrawn. The Consent Terms included Clause 1(g) regarding payment and Clause 1(h) regarding TDS deduction disputes. The Appellant claimed the Corporate Debtor breached the agreement by not paying the full Rs. 2 crores. The Appellant sought to revive

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority erred in approving the decision of the Resolution Professional …

**Ratio:** The Adjudicating Authority has the power to review and approve the decisions of the

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**Reasoning:** The Adjudicating Authority considered the Consent Terms, the payments made, and the

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**Interpretation:** This issue involves the interpretation of the powers and responsibilities of

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**Application:** The NCLAT upheld the Adjudicating Authority's decision, finding no reason to

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## Parties

- **Judges:** Rakesh…; Ashok Kumar…
- **Appellants:** Techengg Project…
- **Respondents:** Ariisto Developers…; Jayesh Sanghrajka…

## Timeline

- **2018-07-19 — Consent Terms…**: The Appellant and Corporate…
- **2018-07-19 — Withdrawal of…**: The Appellant withdrew the Section 7…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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