# In the matter of Earthcon Universal Infratech Private Limited

> NCLT judgment dated 2023-12-18. Citation: TCN-2023-NCLT-00185. The case involves an application filed by Mr. Jitender Arora, the erstwhile Interim Resolution…

- **Court:** NCLT
- **Order date:** 18 Dec 2023
- **Citation:** TCN-2023-NCLT-00185
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/earthcon-universal-infratech-private-limited-0e16ba72

## Summary

### Background

The case involves an application filed by Mr. Jitender Arora, the erstwhile Interim Resolution Professional (IRP) of the Corporate Debtor, M/s. Earthcon Universal Infratech Private Limited, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. The application seeks directions for the stakeholders, including the Committee of Creditors (CoC), to make payments for fees and expenses incurred by the IRP during the Corporate Insolvency Resolution Process (CIRP) until June 12, 2020. The CIRP was initiated based on an application under Section 7 of the IBC filed by the Financial Creditor, M/s. Nisus Finance & Investment LLP, which was admitted on November 8, 2020. A resolution plan submitted by Consortium of M/s. D S Infraheights Private Limited and M/s. Anand

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## Facts

M/s. Nisus Finance & Investment LLP, a Financial Creditor, initiated CIRP against M/s. Earthcon Universal Infratech Private Limited, the Corporate Debtor, under Section 7 of the IBC. The application was admitted on November 8, 2020, and Mr. Jitender Arora was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Gaurav Katiyar was confirmed as the Resolution Professional. A resolution plan submitted by Consortium of M/s. D S Infraheights Private Limited and M/s. Anand Buildtech Private Limited was approved by the CoC on August 19, 2023, with a 70.18% voting share. Mr. Jitender Arora, the erstwhile IRP, filed an application seeking payment of his fees and expenses incurred during the CIRP. The CoC rejected the expenses of the IRP in multiple

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## Issues and analysis

### Issue 1: Whether the Adjudicating Authority can interfere with the commercial wisdom of the Committee of …

**Ratio:** The commercial wisdom of the CoC is paramount and non-justiciable, as established by the

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**Reasoning:** The Adjudicating Authority is not endowed with the powers of jurisdiction or authority to

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**Interpretation:** The Supreme Court's judgment in K. Sashidhar Versus Indian Overseas Bank &

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**Application:** In this case, the CoC rejected the expenses of the IRP in multiple meetings.

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## Parties

- **Judges:** BACHU VENKAT…; ATUL CHAT…
- **Appellants:** Jitender…
- **Respondents:** M/s. EARTHCON…; Gaurav Ka…

## Timeline

- **2016-01-01 — Enactment…**: The Insolvency and Bankruptcy…
- **2020-07-30 — Application…**: Mr. Jitender Arora filed an…

## 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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