Naresh Kumar Munjal vs M/S. Ptc Engineering India Pvt. Ltd
- CitationCompany Appeal (AT) (Insolvency) No.820 of 2024
Ratio decidendi
The rule this decision rests on
An application that seeks relief distinct from the relief sought in another application cannot be disposed of by an order passed on that other application; an order disposing of such an application in that manner is unsustainable and must be set aside, with the application remitted to the Adjudicating Authority for fresh consideration on its own merits after hearing both parties.
Written by Miss Lucy from the judgment below, not taken from a headnote.
Judgment
As delivered
IN THE MATTER OF: Naresh Kr. Munjal, RP for Nipman Fastener Industries Pvt. Ltd. ...Appellant
Versus
PTC Engineering India Pvt. Ltd. ...Respondent
Present: For Appellant : Mr. Naresh Kumar Munjal, RP in person with Ms. Honey Satpal, Ms. Nandini Choudha, Mr. Yash Dhyani, Advocates. For Respondents : Mr. Rishi Kapoor, Mr. Shashank Agarwal, Mr. Sahil Sharma, Mr. Abhishek Taneja, Ms. Deboleena Dutta, Advocates.
With
Company Appeal (AT) (Insolvency) No.997 of 2024
IN THE MATTER OF: PTC Engineering India Pvt. Ltd. ...Appellant
Versus
Naresh Kumar Munjal Resolution Professional of Nipman Fasteners Industries Pvt. Ltd. & Ors. ...Respondents
Present: For Appellant : Mr. Rishi Kapoor, Mr. Shashank Agarwal, Mr. Sahil Sharma, Mr. Abhishek Taneja, Ms. Deboleena Dutta, Advocates. For Respondents : Mr. Naresh Kumar Munjal, RP in person with Ms. Honey Satpal, Ms. Nandini Choudha, Mr. Yash Dhyani, Advocates.
With
Company Appeal (AT) (Insolvency) No.1023 of 2024
Cont'd.../ 2
IN THE MATTER OF: Naresh Kumar Munjal Resolution Professional for Nipman Fastener Industries Pvt. Ltd. ...Appellant
Versus
PTC Engineering India Pvt. Ltd. ...Respondent
Present: For Appellant : Mr. Naresh Kumar Munjal, RP in person with Ms. Honey Satpal, Ms. Nandini Choudha, Mr. Yash Dhyani, Advocates. For Respondents : Mr. Rishi Kapoor, Mr. Shashank Agarwal, Mr. Sahil Sharma, Mr. Abhishek Taneja, Ms. Deboleena Dutta, Advocates.
With
Company Appeal (AT) (Insolvency) No.1024 of 2024
IN THE MATTER OF: Naresh Kumar Munjal Resolution Professional for Nipman Fastener Industries Pvt. Ltd. ...Appellant
Versus
PTC Engineering India Pvt. Ltd. ...Respondent
Present: For Appellant : Mr. Naresh Kumar Munjal, RP in person with Ms. Honey Satpal, Ms. Nandini Choudha, Mr. Yash Dhyani, Advocates. For Respondents : Mr. Rishi Kapoor, Mr. Shashank Agarwal, Mr. Sahil Sharma, Mr. Abhishek Taneja, Ms. Deboleena Dutta, Advocates.
ORDER
(Hybrid Mode)
11.07.2024: All these appeals have been filed against order dated
09.04.2024 passed by the Adjudicating Authority (National Company Law
Tribunal), New Delhi, Court III. Company Appeal (AT) (Ins.) No.820 of 2024
Company Appeal (AT) (Insolvency) No.820, 997, 1023 & 1024 of 2024 3
has been filed against order dated 09.04.2024 passed in IA No. 3923 of 2023
filed by the Resolution Professional. Company Appeal (AT) (Ins.) No.1023 of
2024 has been filed against order dated 09.04.2024 passed in IA No.4529 of
2023. Company Appeal (AT) (Ins.) No.1024 of 2024 has been filed against
order dated 09.04.2024 passed in IA No.4528 of 2023 filed by PTC Engineer
India Pvt. Ltd. and Company Appeal (AT) (Ins.) No.997 of 2024 has been filed
by PTC Engineer India Pvt. Ltd. against order dated 09.04.2024 passed in IA
No.4528 of 2023.
2. In the CIRP of Nipman Fastener Industries Pvt. Ltd., the Resolution
Professional filed IA No.3923 of 2023 seeking direction against PTC Engineer
India Pvt. Ltd. to handover the factory premises including land and building
situated at Plot No.C-198, Yadav Nagar Industrial Area, Bulandshahar Road,
Ghaziabad, Uttar Pradesh. IA No.4529 of 2023 was filed by PTC Engineer
India Pvt. Ltd. praying for allowing the applicant to file its EOI in the CIRP of
the Corporate Debtor. IA No.4528 of 2023 was filed by PTC Engineer India
Pvt. Ltd. seeking direction that factory premises situated at Plot No.C-198,
Yadav Nagar Industrial Area, Bulandshahar Road, Ghaziabad, Uttar Pradesh
and run by PTC Engineer India Pvt. Ltd. be excluded from the asset pool of
the Corporate Debtor. The Adjudicating Authority has passed an order on
09.04.2024 in IA No.4528 of 2023, where following directions have been
issued in Para 24:
"24. We, therefore, direct the Resolution professional to accept the EOI and consider the EOI of the Applicant on merit, after due verification of the requisite documents and place it before the CoC for consideration."
Company Appeal (AT) (Insolvency) No.820, 997, 1023 & 1024 of 2024 4
3. Learned counsel for the Resolution Professional submits that in Para
12 to Para 14, the Adjudicating Authority has recorded the pleadings in IA
No. 4529 of 2023 filed by PTC Engineer India Pvt. Ltd. whereas the application
which was sought to be decided was IA No.4528 of 2023.
4. When we come to the other appeal i.e. Company Appeal (AT) (Ins.)
No.820 of 2024, the Adjudicating Authority by the order dated 09.04.2024
has disposed of application IA No.3923 of 2023 in view of the order passed in
IA No.4528 of 2023. As noted above, the prayers in IA No.3923 of 203 were
entirely different and were required to be adjudicated and said application
ought not to have been disposed of in view of order dated 09.04.2024 in IA
No.4528 of 2023. The order dated 09.04.2024 passed in IA No.3923 of 2023
is thus unsustainable.
5. Now coming to Company Appeal (AT) (Ins.) No.997 of 2024, the order
has been passed in IA No.4528 of 2023 in which by Para 24, the application
was disposed of. As submitted by learned counsel for the Resolution
Professional, in the order pleadings of another application i.e. IA No.4529 of
2023 has been recorded and the Adjudicating Authority has after recording
the pleadings in IA No.4529 of 2023 has disposed of IA No.4528 of 2023.
6. Now coming to Company Appeal (AT) (Ins.) No.1023 of 2024, which is
order passed by the Adjudicating Authority in IA No.4529 of 2023, which was
disposed of in terms of order passed in IA No.4528 of 2023. The prayer in IA
No.4529 of 2023 which application was filed by PTC Engineering India Pvt.
Ltd. were entirely different and the application could not have been disposed
Company Appeal (AT) (Insolvency) No.820, 997, 1023 & 1024 of 2024 5
of in terms of IA No.4528 of 2023. Hence, the order dated 09.04.2024 in IA
No.4529 of 2023 has also become unsustainable.
7. In facts of the present case, we are of the view that ends of justice be
served in setting aside order passed in all aforesaid applications and remitting
all the applications before the Adjudicating Authority for fresh consideration
for hearing both the parties and decide the applications in accordance with
law. All the Appeals are disposed of accordingly and Applications are remitted
before the Adjudicating Authority to be heard and decided.
[Justice Ashok Bhushan] Chairperson
[Barun Mitra] Member (Technical) Archana/nn
Company Appeal (AT) (Insolvency) No.820, 997, 1023 & 1024 of 2024
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