# In the matter of Reliance Infratel Ltd. IA No. 1223 of 2021 in IA No. 1110 of 2021 in Company Petition No. 1385 of 2017

> NCLT judgment dated 2021-06-21. Citation: TCN-2021-NCLT-01940. The case involves an application (IA No. 1223 of 2021) filed by one of the erstwhile directors…

- **Court:** NCLT
- **Order date:** 21 Jun 2021
- **Citation:** TCN-2021-NCLT-01940
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/reliance-infratel-ltd-ia-no-1223-of-2021-in-ia-no-1110-of-2021-in-company-petiti-d56bc690

## Summary

### Background

The case involves an application (IA No. 1223 of 2021) filed by one of the erstwhile directors of Reliance Infratel Ltd (RITL), the Corporate Debtor, seeking to be joined as a party respondent in IA No. 1110 of 2021, which was filed by Reliance Projects and Property Management Services Ltd (RPPMSL). The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 15.05.2018. The resolution plan submitted by the Successful Resolution Applicant (SRA) was approved on 03.12.2020. RPPMSL filed IA No. 1110 of 2021 seeking copies of a forensic audit report and related documents, alleging fraud by some banks under RBI circulars.

## Facts

Reliance Infratel Ltd (RITL) is the Corporate Debtor. An application (IA No. 1223 of 2021) was filed by an erstwhile director of RITL seeking to be impleaded as a party in IA No. 1110 of 2021. IA No. 1110 of 2021 was filed by Reliance Projects and Property Management Services Ltd (RPPMSL) seeking copies of a forensic audit report. RITL was admitted into CIRP on 15.05.2018. The resolution plan of the Successful Resolution Applicant (SRA) was approved on 03.12.2020. The account of the Corporate Debtor was classified as fraud on 10.11.2020. The applicant in the current application argued that proceedings in IA No. 1110 of 2021 could affect them. The respondent argued that the applicant had no locus standi. The RBI circular related to the declaration of fraud has been

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## Issues and analysis

### Issue 1: Whether the applicant, an erstwhile director of the Corporate Debtor, should be impleaded as a …

**Ratio:** The court considered the principle that a resolution plan, once approved, should be

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**Reasoning:** The court reasoned that the applicant in the earlier application (IA No. 1110 of 2021)

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**Interpretation:** The court interpreted the relevant provisions of the Insolvency and Bankruptcy

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**Application:** The court applied the ratio and reasoning to the specific facts of the case,

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## Parties

- **Judges:** Janab Mohammed…; V. Nallasen…
- **Appellants:** Suresh Ran…
- **Respondents:** Reliance Infratel…; Reliance Projects…
- **Advocates:** Prateek Se…; Tushad Ka…; +7 more

## Timeline

- **2018-05-15 — CIRP Commen…**: Corporate Debtor was put under Corporate Insolvency Resolution Process (CIRP) by order of…
- **2020-11-10 — Fraud Classif…**: The account of the Corporate…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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