# In the matter of Unicon Buildtech Vs. Aishwarya Mohan Gahrana RP, Durha Vitrak Private Limited, Comp. App. (AT) (Ins) Nos. 517 of 2021

> NCLAT judgment dated 2021-08-12. Citation: TCN-2021-NCLAT-00136. The case involves an appeal against an order passed by the Adjudicating Authority (National…

- **Court:** NCLAT
- **Order date:** 12 Aug 2021
- **Citation:** TCN-2021-NCLAT-00136
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/unicon-buildtech-vs-aishwarya-mohan-gahrana-rp-durha-vitrak-private-limited-comp-e7a5bbe1

## Summary

### Background

The case involves an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal, Principal Bench, New Delhi) on May 31, 2021, which allowed an application filed by the Resolution Professional seeking liquidation of the Corporate Debtor, Durha Vitrak Private Limited. The appellant, Unicon Buildtech, a prospective resolution applicant, claims that the Committee of Creditors (CoC) rejected their resolution plan arbitrarily, despite the appellant offering a higher amount than the total debt. The appellant argues that the CoC should have considered their plan and that the Adjudicating Authority passed the liquidation order without considering their pending application to present the resolution plan.

## Facts

M/s. Unicon Buildtech, a prospective resolution applicant, filed an appeal against an order passed by the Adjudicating Authority (National Company Law Tribunal, Principal Bench, New Delhi) on May 31, 2021. The Adjudicating Authority allowed an application filed by the Resolution Professional seeking liquidation of the Corporate Debtor, Durha Vitrak Private Limited. Unicon Buildtech had submitted a resolution plan, along with earnest money, which was later revised based on discussions with the Committee of Creditors (CoC). The 6th CoC meeting was scheduled for January 28, 2021. On January 27, 2021, Unicon Buildtech sent an email stating their professional team was unavailable due to farmer protests affecting internet connectivity. Despite this, the CoC rejected Unicon

…

## Issues and analysis

### Issue 1: Whether the Committee of Creditors (CoC) acted arbitrarily in rejecting the Resolution Plan …

**Ratio:** The CoC has the commercial wisdom to decide on the feasibility and viability of a

…

**Reasoning:** The court noted that the CoC had considered the appellant's resolution plan and rejected

…

**Interpretation:** The CoC's decision-making process is generally respected, and courts are

…

**Application:** The court applied the principle that it should not interfere with the

…

## Parties

- **Judges:** A.I.S. C…; V. P. S…
- **Appellants:** M/s. Unicon…
- **Respondents:** Durha Vitrak…; Aishwarya Mohan…

## Timeline

- **2019-11-08 — Section 7 Application…**: Section 7 Application…
- **2021-01-27 — Appellant's Email…**: Unicon Buildtech sent an email stating their professional team was unavailable due to…

## 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)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/unicon-buildtech-vs-aishwarya-mohan-gahrana-rp-durha-vitrak-private-limited-comp-e7a5bbe1