# In the matter of Lanco Hoskote Highway Ltd. IA No. 511-2020 in CP (IB) No. 133-7-HDB-2019

> NCLT judgment dated 2020-08-12. Citation: TCN-2020-NCLT-00857. Greenergy Wind Corporation Pvt Ltd filed an interlocutory application (IA No. 511/2020) under…

- **Court:** NCLT
- **Order date:** 12 Aug 2020
- **Citation:** TCN-2020-NCLT-00857
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/lanco-hoskote-highway-ltd-ia-no-511-2020-in-cp-ib-no-133-7-hdb-2019-1f8e5c30

## Summary

### Background

Greenergy Wind Corporation Pvt Ltd filed an interlocutory application (IA No. 511/2020) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking permission to participate in the Corporate Insolvency Resolution Process (CIRP) of Lanco Hoskote Highway Limited. The applicant claimed they were unaware of the CIRP and missed the deadline for submitting an Expression of Interest (EOI). The Resolution Professional (RP) opposed the application, citing that the EOI deadline had passed and two resolution plans were already under consideration. The applicant argued that the CIRP period was extended due to the COVID-19 pandemic and no prejudice would be caused if they were allowed to participate.

## Facts

Greenergy Wind Corporation Pvt Ltd, the applicant, sought to participate in the CIRP of Lanco Hoskote Highway Limited, the corporate debtor. The CIRP commenced on 17.10.2019. The invitation for Expression of Interest (EOI) was published on 17.12.2019, with an initial deadline of 01.01.2020, later extended to 13.01.2020 and then to 06.03.2020. The deadline for submitting the resolution plan was 27.02.2020, extended to 06.04.2020 and then to 20.05.2020. The applicant claimed unawareness of the CIRP until recently and sought permission to submit a resolution plan. The Resolution Professional (RP) opposed, stating that the EOI deadline had passed, two resolution plans were already under consideration, and the Committee of Creditors (COC) had finalized one resolution plan

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## Issues and analysis

### Issue 1: Whether the Tribunal should allow the applicant, Greenergy Wind Corporation Pvt Ltd, to participate …

**Ratio:** Regulation 36(6) of the IBBI Regulations permits the rejection of an Expression of

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**Reasoning:** The court reasoned that allowing the applicant to participate at a belated stage would

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**Interpretation:** The interpretation of Regulation 36(6) is that strict adherence to the

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**Application:** In this case, the applicant missed the deadline for submitting the EOI, and the

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## Parties

- **Judges:** Ratakonda…; Ratakonda…
- **Appellants:** Greenergy Wind…
- **Respondents:** Lanco Hoskote…; Raghu Babu…
- **Advocates:** Mr.Kailash Nath…

## Timeline

- **2019-10-17 — CIRP Commen…**: Corporate Insolvency Resolution Process (CIRP) commenced against Lanco Hoskote Highway…
- **2019-12-17 — EOI Invit…**: Public announcement seeking Expression 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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