# In the matter of C & C Towers Limited

> NCLT judgment dated 2023-10-19. Citation: TCN-2023-NCLT-01106. The case involves multiple applications (IA No. 572/2022, 32/2021, 166/2021, 179/2022) filed in…

- **Court:** NCLT
- **Order date:** 19 Oct 2023
- **Citation:** TCN-2023-NCLT-01106
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/c-c-towers-limited-954a47ed

## Summary

### Background

The case involves multiple applications (IA No. 572/2022, 32/2021, 166/2021, 179/2022) filed in connection with the Corporate Insolvency Resolution Process (CIRP) of C & C Towers Limited. The primary dispute revolves around a Concession Agreement dated 15.04.2009 between Greater Mohali Area Development Authority (GMADA) and C & C Towers Limited for the development of a Bus Terminal-cum-Commercial Complex at Mohali. GMADA filed IA No. 572/2022 seeking to refuse sanction to the Resolution Plan proposed by Mahakram Developers Private Limited and to impose costs on the respondents and the Committee of Creditors (CoC). The core of GMADA's objection is that the Resolution Plan seeks concessions from GMADA without their consent and attempts to rewrite the contractual

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## Facts

1. A Concession Agreement was signed on 15.04.2009 between GMADA and C & C Towers Limited for the development of a Bus Terminal-cum-Commercial Complex at Mohali on a Design-Build-Operate-Transfer (DBOT) basis.
2. C & C Towers Limited faced financial difficulties, leading to delays in the project and the initiation of CIRP on 10.10.2019.
3. GMADA issued a notice dated 04.04.2016 to C & C Towers Limited to show cause as to why the Concession Agreement should not be terminated due to delays.
4. GMADA filed a claim of Rs. 89,25,51,457/- as an operational creditor during the CIRP.
5. The Resolution Plan submitted by Mahakram Developers Private Limited sought various concessions from GMADA, including withdrawal of the termination notice, exclusion of certain periods

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## Issues and analysis

### Issue 1: Whether the Committee of Creditors (CoC) exceeded its powers in approving the Resolution Plan, …

**Ratio:** The commercial wisdom of the CoC is paramount and the Adjudicating Authority has limited

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**Reasoning:** The court reasoned that the CoC is best positioned to assess the viability and

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**Interpretation:** This issue involves the interpretation of the scope of the CoC's powers under

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**Application:** The court applied the principle of respecting the CoC's commercial wisdom to

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## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Appellants:** Kusum C…
- **Respondents:** C & C Towers…

## Timeline

- **2009-04-15 — Concession Ag…**: Concession Agreement signed between GMADA and C & C Towers Limited for the development of…
- **2016-04-04 — Show Cause…**: GMADA issued a notice to C & C Towers Limited to show cause as to why the Concession…

## 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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