# Praveen Kumar Garg vs. APS Infra Engineers Private Limited

> NCLT judgment dated 2026-07-10. Citation: TCN-2026-NCLT-00741. The Corporate Insolvency Resolution Process (CIRP) was initiated against APS Infra Engineers…

- **Court:** NCLT
- **Order date:** 10 Jul 2026
- **Citation:** TCN-2026-NCLT-00741
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-new-delhi/praveen-kumar-garg-vs-aps-infra-engineers-private-limited-y0tn0

## Summary

### Background

The Corporate Insolvency Resolution Process (CIRP) was initiated against APS Infra Engineers Pvt. Ltd. based on an application by Praveen Kumar Garg, an Operational Creditor. Mr. Sumit Shukla was initially appointed as the Interim Resolution Professional (IRP), and subsequently, Mr. Arvind Mittal was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) was constituted, and a Request for Resolution Plan (RFRP) was issued, leading to the submission of four resolution plans.

## Facts

The Corporate Insolvency Resolution Process (CIRP) was initiated against APS Infra Engineers Pvt. Ltd. by an order dated 09.08.2024.

Mr. Sumit Shukla was initially appointed as the Interim Resolution Professional (IRP).

Mr. Arvind Mittal was subsequently appointed as the Resolution Professional (RP) by the Committee of Creditors (CoC).

Four Prospective Resolution Applicants (PRAs) submitted resolution plans: Raj Kumar Singh, Neeta Goyal, Liverbird International Private Limited, and SPG Infraprojects Private Limited.

The CoC adopted a Swiss Challenge Mechanism, which resulted in an enhancement of the resolution plan value by 42.89%, bringing the final value to Rs. 2.75 Crores.

SPG Infra Projects Pvt. Ltd. emerged as the highest (H1) bidder after the Challenge Mechanism.

…

## Issues and analysis

### Issue 1: Whether the resolution plan submitted by SPG Infra Projects Private Limited complies with the …

**Ratio:** A resolution plan must strictly comply with the provisions of the Insolvency and

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**Reasoning:** The NCLT found that Clause 5.7 of the resolution plan, which stipulated that recoveries

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**Interpretation:** Regulation 38(2)(d) is interpreted to mean that a resolution plan must provide

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**Application:** The resolution plan's Clause 5.7 was found to be non-compliant with Regulation

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## Parties

- **Judges:** Sh. Ashok Kumar…; ATUL CHAT…
- **Appellants:** Praveen Kum…; Arvind M…
- **Respondents:** APS Infra…
- **Other parties:** Yuvraj T…; ICICI Ban…; +4 more
- **Advocates:** Ashish…; Milan Sing…; +4 more

## Timeline

- **2024-08-09 — CIRP Initiati…**: The Corporate Insolvency Resolution Process (CIRP) was initiated against APS Infra…
- **2024-10-19 — 2nd CoC M…**: The Committee of Creditors (CoC) deliberated on the publication of Form G, finalization…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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