# In the matter of J.P. Engineering Pvt. Ltd. IA 2757-ND-2021 in Company Petition No. (IB)-1048(ND)-2019

> NCLT judgment dated 2021-09-27. Citation: TCN-2021-NCLT-00984. The case involves an application (I.A. No. 2757 of 2021) preferred jointly by Mr. Adiish Jain,…

- **Court:** NCLT
- **Order date:** 27 Sept 2021
- **Citation:** TCN-2021-NCLT-00984
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/jp-engineering-pvt-ltd-ia-2757-nd-2021-in-company-petition-no-ib-1048nd-2019-68a6d51c

## Summary

### Background

The case involves an application (I.A. No. 2757 of 2021) preferred jointly by Mr. Adiish Jain, Mr. Mohinder Jain, and Mr. Anuj Goyal against Mr. Vivek Raheja, the Resolution Professional (RP) of the Corporate Debtor, J.P. Engineering Pvt. Ltd. The application arises from the Corporate Insolvency Resolution Process (CIRP) initiated against J.P. Engineering Pvt. Ltd. based on an application filed by the Operational Creditor, M/s World Wide Metals Pvt. Ltd., under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The applicants are seeking to be included in the final list of Prospective Resolution Applicants (PRA) and are contesting their exclusion by the RP due to ineligibility criteria, specifically a minimum turnover requirement of Rs. 25 Crore. They also

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## Facts

M/s World Wide Metals Pvt. Ltd. initiated CIRP against J.P. Engineering Pvt. Ltd. under Section 9 of IBC, 2016. The CIRP was initiated vide order dated 26.02.2020. Mr. Adiish Jain, Mr. Mohinder Jain, and Mr. Anuj Goyal jointly filed I.A. No. 2757 of 2021 seeking to be included as Prospective Resolution Applicants (PRAs). The RP rejected their EOI citing ineligibility. The applicants' main grievance is the rejection of their EOI and their exclusion from the final list of PRAs due to not meeting the minimum turnover criteria of Rs. 25 Crore. The RP published the Expression of Interest in Form-G on 14.05.2021, with a deadline of 31.05.2021. The applicants submitted their EOI on 31.05.2021 with a refundable earnest deposit. Union Bank of India issued an order on 07.06.2021

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## Issues and analysis

### Issue 1: Whether the issue regarding status (i.e., declaration /classification) of Applicants as ‘Wilful …

**Ratio:** The NCLT's jurisdiction under Section 60(5) of the IBC is limited to matters arising from

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**Reasoning:** The NCLT reasoned that the dispute regarding the classification of willful defaulters

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**Interpretation:** Section 29A(b) of IBC 2016 requires the Adjudicating Authority to see whether a

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**Application:** The NCLT applied the principle that it cannot adjudicate on matters outside the

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## Parties

- **Judges:** ABNI RANJAN KUMAR…; L. N. G…
- **Appellants:** Adiish…
- **Respondents:** J.P. Engineering…; Vivek R…
- **Advocates:** Mohit Cha…; Garima S…; +1 more

## Timeline

- **2020-02-26 — CIRP Init…**: Order initiating CIRP against the Corporate…
- **2021-04-18 — Form G Publ…**: Form G dated 18th April 2021 bearing 03rd May 2021 as the last date of submission of…

## 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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