# In the matter of Dev Denso Power Ltd.

> NCLT judgment dated 2023-09-26. Citation: TCN-2023-NCLT-01471. The case involves an application filed by the Liquidator of Dev Denso Power Ltd. seeking…

- **Court:** NCLT
- **Order date:** 26 Sept 2023
- **Citation:** TCN-2023-NCLT-01471
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/dev-denso-power-ltd-199f6962

## Summary

### Background

The case involves an application filed by the Liquidator of Dev Denso Power Ltd. seeking directions to Uttar Pradesh Rajkiya Nirman Nigam Limited (UPRNN), the Respondent No. 1, to deposit Rs. 1,72,58,099.60 into the Liquidation Account of the Corporate Debtor. This amount is related to outstanding dues from various works agreements/LOIs entered between UPRNN and Dev Denso Power Ltd. between 2010 and 2011. The Corporate Insolvency Resolution Process (CIRP) was initiated against Dev Denso Power Ltd. following an application under Section 7 of the IBC by Oriental Bank of Commerce (now merged with Punjab National Bank). Pooja Bahry was appointed as the Interim Resolution Professional (IRP), and later, the company went into liquidation, with the applicant being appointed as

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## Facts

Between 2010 and 2011, Uttar Pradesh Rajkiya Nirman Nigam Limited (UPRNN), Respondent No. 1, entered into various works Agreements/LOIs with Dev Denso Power Ltd., the Corporate Debtor, for construction works. UPRNN was awarded the work of various substations in Uttar Pradesh by Uttar Pradesh Power Transmission Corporation Limited (UPPTCL), Respondent No. 2. UPRNN subcontracted the work of three substations (Khurja, Panwari, and Dharampur) to Dev Denso Power Ltd. through Letters of Intent (LoI). Oriental Bank of Commerce (merged with Punjab National Bank) initiated Corporate Insolvency Resolution Process (CIRP) against Dev Denso Power Ltd. under Section 7 of the IBC, which was admitted on 2019-06-11. Pooja Bahry was appointed as the Interim Resolution Professional

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## Issues and analysis

### Issue 1: Whether the NCLT has jurisdiction to adjudicate a dispute arising from a contractual agreement …

**Ratio:** The NCLT's jurisdiction is limited to matters that arise solely from or relate to the

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**Reasoning:** The NCLT relied on the Supreme Court's judgment in Gujarat Urja Vikas Nigam Limited Vs.

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**Interpretation:** Section 60(5)(c) of the IBC grants the NCLT jurisdiction to adjudicate disputes

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**Application:** In this case, the dispute between the Liquidator and UPRNN arises from the LOIs

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## Parties

- **Judges:** BACHU VENKAT…; RAHUL BHA…
- **Appellants:** Pooja Bahry,…
- **Respondents:** Dev Denso Power…; Uttar Pradesh…

## Timeline

- **2010-01-01 — Agreement…**: Uttar Pradesh Rajkiya Nirman Nigam Limited (UPRNN) entered into various works…
- **2019-06-11 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) was initiated against Dev Denso Power Ltd.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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