# In the matter of Global Energy Private Limited

> NCLT judgment dated 2024-04-22. Citation: TCN-2024-NCLT-01649. This case involves an Interlocutory Application (I.A. No. 455 of 2021) filed by Mala Verma, the…

- **Court:** NCLT
- **Order date:** 22 Apr 2024
- **Citation:** TCN-2024-NCLT-01649
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/global-energy-private-limited-1a4d6c75

## Summary

### Background

This case involves an Interlocutory Application (I.A. No. 455 of 2021) filed by Mala Verma, the Applicant, against Mr. Pankaj Srivastava, the Resolution Professional (RP) of Global Energy Private Limited, the Corporate Debtor. The Applicant sought directions under Section 60(5) of the Insolvency & Bankruptcy Code, 2016, primarily concerning the payment of rent accrued during the Corporate Insolvency Resolution Process (CIRP) and the possession of the leased premises. The Applicant had leased property to the Corporate Debtor, who defaulted on rent payments, leading to the termination of the lease agreement. The CIRP was initiated against the Corporate Debtor, and the Applicant claimed rent accrued during the moratorium period as part of the CIRP costs.

## Facts

Mala Verma (Applicant) leased property to Global Energy Private Limited (Corporate Debtor) on 12.01.2018 for 3 years. The Corporate Debtor defaulted on rent, GST, and TDS payments. The Applicant terminated the lease in April 2020 and demanded possession. The Corporate Debtor did not respond. On 02.12.2019, CIRP was initiated against the Corporate Debtor. Mr. L.V. Shyamsundar was appointed as the IRP. An appeal was filed against the CIRP admission order. The Operational Creditor filed MA No.308 of 2020 to replace the IRP, and Mr. Anurag Jain was appointed. The IRP expressed his inability to accept the appointment. The Applicant filed a claim for rent from 02.12.2019. The Hon'ble NCLAT stayed the publication by the IRP and the constitution of the CoC on 09.12.2019. The

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## Issues and analysis

### Issue 1: Whether the rent accrued during the moratorium period should be considered part of the Corporate …

**Ratio:** Regulation 31(b) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution

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**Reasoning:** The court reasoned that the Respondent's statement that the property was never in their

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**Interpretation:** The interpretation is that amounts due to a person whose rights are

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**Application:** The ratio and reasoning apply to the specific facts of this case because the

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## Parties

- **Judges:** Reeta K…; Madhu S…
- **Appellants:** Mala V…
- **Respondents:** Global Energy…; Pankaj Sriv…

## Timeline

- **2018-01-12 — Lease Agr…**: Applicant entered into a lease agreement with the Corporate Debtor for a period of 3…
- **2019-12-02 — CIRP Init…**: CIRP initiated against the Corporate Debtor;…

## 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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