# In the matter of Global Energy Private Limited

> NCLT judgment dated 2024-04-22. Citation: TCN-2024-NCLT-01658. This case involves an Interlocutory Application (I.A. 455 of 2021) filed by Mala Verma, the…

- **Court:** NCLT
- **Order date:** 22 Apr 2024
- **Citation:** TCN-2024-NCLT-01658
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/global-energy-private-limited-98496735

## Summary

### Background

This case involves an Interlocutory Application (I.A. 455 of 2021) filed by Mala Verma, the Applicant, against Mr. Pankaj Srivastava, the Resolution Professional (RP) and Respondent, under Section 60(5) of the Insolvency & Bankruptcy Code, 2016. The application seeks directions related to the Corporate Insolvency Resolution Process (CIRP) of Global Energy Private Limited, the Corporate Debtor. The Applicant, a lessor, seeks the appointment of an Interim Resolution Professional (IRP), payment of rent accrued during the CIRP process, and the return of premises not utilized by the Corporate Debtor. The Corporate Debtor was admitted into CIRP on 02.12.2019. The Applicant had leased property to the Corporate Debtor, who defaulted on rent payments, leading to the

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## Facts

Mala Verma, the Applicant, leased property to Global Energy Private Limited, the Corporate Debtor, under a lease agreement dated 12.01.2018. The Corporate Debtor defaulted on rent payments, leading the Applicant to issue a termination notice in April 2020. The Corporate Debtor was admitted into CIRP on 02.12.2019. The Applicant filed I.A. 455 of 2021 seeking payment of rent accrued during the CIRP period, arguing it should be considered part of the CIRP costs. The Respondent, Mr. Pankaj Srivastava, the Resolution Professional, argued that the claim was rejected because the possession of the property was already transferred back to the applicant on 17.08.2022. The Respondent admitted a portion of the claim amounting to Rs. 23,66,000 until 30.11.2020. The Applicant

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## Issues and analysis

### Issue 1: Whether the rent accrued during the CIRP period should be considered part of the CIRP costs, …

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

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**Reasoning:** The court relied on the NCLAT's judgment in 'Prerna Singh v. CoC_PF_m/S_Xalta Food and

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**Interpretation:** The interpretation of Regulation 31(b) and the NCLAT's judgment is that the

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**Application:** The court applied this principle to the present case, holding that 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…
- **2019-12-02 — CIRP Init…**: CIRP initiated against…

## 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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