# In the matter of Regen Infrastructure And Services Private Limited

> NCLT judgment dated 2024-06-04. Citation: TCN-2024-NCLT-01232. The document is an attendance cum order sheet from the National Company Law Tribunal (NCLT),…

- **Court:** NCLT
- **Order date:** 4 Jun 2024
- **Citation:** TCN-2024-NCLT-01232
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/regen-infrastructure-and-services-private-limited-d73f9baa

## Summary

### Background

The document is an attendance cum order sheet from the National Company Law Tribunal (NCLT), Chennai Bench, for hearings held on June 4, 2024. It involves multiple applications (IAs) related to corporate insolvency resolution processes (CIRP) under the Insolvency and Bankruptcy Code (IBC). The cases involve M/s Regen Powertech Pvt Ltd and Regen Infrastructure and Services Pvt Ltd. Several IAs are being withdrawn, some are awaiting orders from the National Company Law Appellate Tribunal (NCLAT), and others are scheduled for further hearings.

## Facts

The document presents several key facts:
1. Hearings were conducted on June 4, 2024, at the NCLT Chennai Bench.
2. Two main cases are addressed: IBA/1099/2019 (M/s Regen Powertech Pvt Ltd) and CP(IB)/1424(CHE)/2022 (Regen Infrastructure and Services Pvt Ltd).
3. Multiple IAs are associated with each case, addressing various issues.
4. Some applicants are withdrawing their applications, indicating resolution or change in circumstances.
5. A lease deed dated 18.01.2018 was quashed due to being arbitrary, illegal, and untenable.
6. Some matters are awaiting orders from NCLAT.
7. State Bank of India has been granted liberty to file an application at a later stage.
8. Applications related to contempt of court are being disposed of as withdrawn after compliance.
9. A fresh

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## Issues and analysis

### Issue 1: Whether IA/IBC/1703/2023 seeking relief to quash the …

**Ratio:** The lease deed was not entered into in terms of commercial propriety and is not in the

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**Reasoning:** The tribunal examined the issue and found that the lease deed was not in accordance with

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**Interpretation:** The tribunal interpreted the commercial propriety and the interest of CIRP

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**Application:** Based on the facts, the tribunal applied the ratio to the specific lease deed

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## Parties

- **Judges:** JYOTI KUMAR…; RAVICHANDRAN…
- **Appellants:** M/s Regen…

## Timeline

- **2018-01-18 — Lease Dee…**: Date of the lease deed that was…
- **2024-01-29 — Dismissal of M…**: The main application MA/40/2020…

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