# In the matter of Regen Powertech Private Limited MA--91,92,93,517,518,548,617,664,694,695,700,709,713,714,715,716,717,718,719,720,721,725,727,728 & 810(CHE)-2021 in IBA-1099 & 1424-2019

> NCLT judgment dated 2021-11-01. Citation: TCN-2021-NCLT-00652. The case involves multiple applications seeking consolidation and simultaneous Corporate…

- **Court:** NCLT
- **Order date:** 1 Nov 2021
- **Citation:** TCN-2021-NCLT-00652
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/regen-powertech-private-limited-ma-919293517518548617664694695700709713714715716-1d02b0aa

## Summary

### Background

The case involves multiple applications seeking consolidation and simultaneous Corporate Insolvency Resolution Process (CIRP) for Regen Powertech Private Limited (RPPL) and Regen Infrastructure & Services Private Limited (RISPL). RPPL was admitted into CIRP on 2019-12-09, and RISPL on 2020-02-19. The applications were filed primarily by customers of RPPL and RISPL, who had entered into Operation and Maintenance (O&M) agreements. The Resolution Professional (RP) of RISPL also filed an application seeking simultaneous CIRP. The applications were filed under Section 60(2) and 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 and 32 of the National Company Law Tribunal Rules, 2016.

## Facts

Regen Powertech Private Limited (RPPL) and Regen Infrastructure & Services Private Limited (RISPL) are undergoing Corporate Insolvency Resolution Process (CIRP). RPPL was admitted into CIRP on 2019-12-09, and RISPL on 2020-02-19. RISPL is a wholly-owned subsidiary of RPPL. Several applications were filed seeking consolidation and simultaneous CIRP of both companies. The applicants are primarily customers of RPPL and RISPL, who have entered into Operation and Maintenance (O&M) agreements. RPPL has supplied Wind Energy Converters (WEC) to various applicants, and RISPL provides O&M services. RPPL has transferred the activity of operations and maintenance services to RISPL in the year 2015. The Committee of Creditors (CoC) of RPPL has approved a Resolution Plan

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority has the jurisdiction under IBC, 2016 to order consolidation of …

**Ratio:** The IBC, 2016 does not specifically authorize consolidation of CIRP. The provisions of

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**Reasoning:** The Hon'ble Supreme Court has stated that the Adjudicating Authority (NCLT) and the

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**Interpretation:** The absence of specific provisions for consolidation of CIRP in IBC, 2016, and

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**Application:** The Adjudicating Authority cannot order consolidation of CIRP for RPPL and

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## Parties

- **Judges:** R. Sucha…; Anil Ku…
- **Appellants:** M/s.TVH Energy…
- **Respondents:** M/s. ReGen…; Ebenezar I…

## Timeline

- **2019-12-09 — RPPL admitted…**: Regen Powertech Private Limited was admitted into Corporate Insolvency Resolution Process…
- **2020-02-19 — RISPL admitted…**: Regen Infrastructure and Services Private Limited was admitted into Corporate Insolvency…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(2) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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