# In the matter of E Complex Private Limited IA-537(MP)2021 in CP(IB)-563-9-AHM-2018]

> NCLT judgment dated 2023-10-18. Citation: TCN-2023-NCLT-01114. SKIL Infrastructure Limited filed an application against the partial rejection of its claim of…

- **Court:** NCLT
- **Order date:** 18 Oct 2023
- **Citation:** TCN-2023-NCLT-01114
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/e-complex-private-limited-ia-537mp2021-in-cpib-563-9-ahm-2018-66c348a7

## Summary

### Background

SKIL Infrastructure Limited filed an application against the partial rejection of its claim of financial debt in the Corporate Insolvency Resolution Process (CIRP) of E-Complex Pvt Ltd. E-Complex Pvt Ltd was admitted into CIRP on 2020-12-09. SKIL Infrastructure Limited filed a claim of Rs 37,87,42,125 along with 16% interest. The Resolution Professional (RP) admitted a claim of Rs 21,37,53,928. SKIL Infrastructure Limited is part of the SKIL Group, which were promoters of Reliance Naval and Engineering Limited (RNEL). SKIL Infrastructure Limited furnished securities for Rs 130 crores availed by E-Complex Pvt Ltd from ECL Finance Limited, JM Financial Products Limited, India Infoline Finance Limited (IIFL), Religare Finvest Limited (RFL) and SREI Infrastructure and

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## Facts

SKIL Infrastructure Limited filed an application against the partial rejection of its claim of financial debt in the CIRP of E-Complex Pvt Ltd. E-Complex Pvt Ltd was admitted into CIRP on 2020-12-09. SKIL Infrastructure Limited filed a claim of Rs 37,87,42,125 with 16% interest, but the RP admitted only Rs 21,37,53,928. SKIL Infrastructure Limited is part of the SKIL Group, which were promoters of RNEL. SKIL Infrastructure Limited furnished securities for Rs 130 crores availed by E-Complex Pvt Ltd from various financial institutions. Control of RNEL shifted to Reliance Group on 2015-03-04. The Reliance Group was to ensure the release of securities furnished by the SKIL Group. Lenders invoked certain shares of RNEL owned by SKIL Infrastructure Limited and pledged as

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## Issues and analysis

### Issue 1: Whether the decision of the Resolution Professional on the partial rejection of the claim is …

**Ratio:** The Resolution Professional is responsible for verifying claims and admitting or

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**Reasoning:** The court found that the RP had carried out due verification and sought the required

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**Interpretation:** The court interpreted that the RP's decision was justified because the

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**Application:** In this case, the applicant's failure to provide credit notes from RFL and

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## Parties

- **Judges:** SHAMMI…; KAUSHALENDRA…
- **Appellants:** Skil Infrastructur…
- **Respondents:** E-Complex Private…; Chandra Prakash…

## Timeline

- **2020-12-09 — CIRP Admi…**: E-Complex Pvt Ltd was admitted into…
- **2021-02-23 — Claim Subm…**: SKIL Infrastructure Limited submitted a claim of Rs 37,87,42,125/- along with 16%…

## 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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