# 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-00648. The case involves multiple applications seeking consolidation and simultaneous Corporate…

- **Court:** NCLT
- **Order date:** 1 Nov 2021
- **Citation:** TCN-2021-NCLT-00648
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/regen-powertech-private-limited-ma-919293517518548617664694695700709713714715716-60a7092e

## 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 core issue revolves around whether the Adjudicating Authority can order consolidation of CIRP for RPPL and RISPL, considering the absence of specific provisions in the Insolvency and Bankruptcy Code (IBC), 2016, and the advanced stage of

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## 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. Multiple applications were filed seeking consolidation and simultaneous CIRP of RPPL and RISPL. These applications were primarily filed by customers of RPPL and RISPL, who had entered into Operation and Maintenance (O&M) agreements. The RP of RISPL also filed an application seeking simultaneous CIRP. RPPL has manufactured and supplied around 1557 Wind Energy Generators to various customers. RPPL assigned the O&M Agreement in favour of RISPL. The Resolution Plan in respect of RPPL is

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority has the power to order consolidation of CIRP for RPPL and RISPL …

**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 vociferously stated that this Adjudicating Authority (NCLT)

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**Interpretation:** The absence of specific provisions in the IBC, 2016, and the lack of 'equity

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**Application:** In the present case, the Adjudicating Authority cannot order consolidation of

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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 (RPPL) was admitted into Corporate Insolvency Resolution…
- **2020-02-19 — RISPL admitted…**: Regen Infrastructure & Services Private Limited (RISPL) was admitted into Corporate…

## 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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