# In the matter of Ratandeep Infrastructure Pvt. Ltd. IA No. 220-2021, IA No.73-2021, CA No. 191-2019,
CA NO. 192-2019, CA No. 232-2019, CA No. 65-2020 in CP No.(IB)45-ALD-2019

> NCLT judgment dated 2021-12-07. Citation: TCN-2021-NCLT-00244. The document pertains to several applications (IA No. 220/2021, IA No.73/2021, CA No. 191/2019,…

- **Court:** NCLT
- **Order date:** 7 Dec 2021
- **Citation:** TCN-2021-NCLT-00244
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/ratandeep-infrastructure-pvt-ltd-ia-no-220-2021-ia-no73-2021-ca-no-191-2019-ca-n-1a012d3e

## Summary

### Background

The document pertains to several applications (IA No. 220/2021, IA No.73/2021, CA No. 191/2019, CA NO. 192/2019, CA No. 232/2019, CA No. 65/2020) filed in relation to a Corporate Debtor, Nitin Jain & Anr V/S Ratandeep Infrastructure Pvt Ltd, under Section 7 of the IBC. The applications address issues such as submitting a resolution plan, consideration of claims by the Resolution Professional, and payment of fees to the Resolution Professional. The CIRP was initiated on 2019-04-16.

## Facts

Nitin Jain & Anr V/S Ratandeep Infrastructure Pvt Ltd is undergoing Corporate Insolvency Resolution Process (CIRP) under Section 7 of the IBC. The CIRP was initiated on 2019-04-16. Several applications were filed, including one by the Suspended Board to submit a Resolution Plan (CA No. 191/2019), which was dismissed because the Corporate Debtor is not an MSME and would violate Section 29A of the IBC. Another application (IA No. 220/2021) sought to submit a resolution plan but was dismissed as infructuous because the COC had already resolved to liquidate the Corporate Debtor. An application regarding the Resolution Professional's fees (CA No. 65/2020) was addressed with directions for the RP to raise invoices and for the COC to consider them. The application seeking

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## Issues and analysis

### Issue 1: Whether the application by the Suspended Board to submit a Resolution Plan (CA No. 191/2019) is …

**Ratio:** Section 29A of the IBC restricts certain individuals from submitting a resolution plan.

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**Reasoning:** The court reasoned that since the Corporate Debtor is not an MSME, allowing the Suspended

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**Interpretation:** Section 29A is interpreted strictly to prevent individuals with a history of

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**Application:** In this case, because the Corporate Debtor is not an MSME, the application by

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## Parties

- **Judges:** Rajasekha…; Virendra Kumar…
- **Appellants:** Sh. Kartikeya…
- **Respondents:** NITIN JAIN & ANR…; Sh. Deepak Maurya…

## Timeline

- **2018-06-06 — Section 29A came into…**: Provision Section 29A came…
- **2019-04-16 — CIRP Init…**: CIRP was initiated against the Corporate…

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