# In the matter of Educomp Infrastructure & School Management Limited CA No. 309-2019 in CP (IB) No.10-Chd-Hry-2018

> NCLT judgment dated 2023-01-25. Citation: TCN-2023-NCLT-04905. The application was filed by the whole-time Director and part of the suspended board of…

- **Court:** NCLT
- **Order date:** 25 Jan 2023
- **Citation:** TCN-2023-NCLT-04905
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/educomp-infrastructure-school-management-limited-ca-no-309-2019-in-cp-ib-no10-ch-1b7fab65

## Summary

### Background

The application was filed by the whole-time Director and part of the suspended board of Directors of the corporate debtor, M/s Educomp Infrastructure & School Management Limited, seeking an early conclusion of the Corporate Insolvency Resolution Process (CIRP) and details of expenses incurred by the Committee of Creditors (CoC). The applicant also sought a direction against the Resolution Professional not to release any payment for expenses incurred by the CoC, citing an IBBI Circular dated 12.06.2018. The Resolution Professional sought extensions for completing the CIRP due to pending applications before the Adjudicating Authority. The applicant alleged that the Resolution Professional and CoC were delaying the CIRP, leading to increased costs.

## Facts

M/s Educomp Infrastructure & School Management Limited is undergoing CIRP. The applicant, the whole-time Director and part of the suspended board of Directors, filed an application seeking an early conclusion of CIRP and details of expenses incurred by the CoC. The applicant also sought a direction against the Resolution Professional not to release any payment for expenses incurred by the CoC, citing an IBBI Circular dated 12.06.2018. The Resolution Professional sought extensions for completing the CIRP due to pending applications before the Adjudicating Authority. The applicant alleged that the Resolution Professional and CoC were delaying the CIRP, leading to increased costs. The CoC approved the Resolution Plan on 23.09.2019 with 100% voting. The application for

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## Issues and analysis

### Issue 1: Whether the application for early conclusion of CIRP and details of expenses incurred by the CoC is …

**Ratio:** The CoC has already approved the Resolution Plan on 23.09.2019 with 100% voting, and the

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**Reasoning:** The court observed that due to the efflux of time, most of the reliefs claimed by the

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**Interpretation:** The court interpreted that the approval of the Resolution Plan by the CoC and

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**Application:** Since the Resolution Plan was already approved and the CIRP costs were

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## Parties

- **Judges:** Harnam Singh…; SUBRATA KUM…
- **Appellants:** Vinod Kumar…
- **Respondents:** M/s Educomp…; Andhra…

## Timeline

- **2018-06-12 — IBBI Cir…**: IBBI Circular bearing No.IBBI/IP/013/2018 issued, concerning costs incurred during the…
- **2019-09-23 — Resolution Plan…**: The CoC approved the…

## 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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