If required, Supreme Court can take assistance from Resolution Professional(RP), in case an appeal(s) is preferred by CoC/third party. RP should not have filed appeals and should have maintained a neutral stand, it is for the aggrieved parties/CoC to take appropriate proceedings or file an appeal before Supreme Court – Regen Powertech Pvt. Ltd. Vs. Giriraj Enterprises & Anr. – Supreme Court

October 6, 2023

Hon’ble Supreme Court has dismissed the appeal field by Resolution Professional against the NCLAT order in Giriraj Enterprises Vs. Regen Powertech Pvt. Ltd. (2023) ibclaw.in 569 NCLAT and has held that the Resolution Professional should not have filed the present appeals. The Resolution Professional should have maintained a neutral stand. It is for the aggrieved parties, including the Committee of Creditors of Regen Powertech Private Limited (RPPL) and Regen Infrastructure and Services Private Limited (RISPL), to take appropriate proceedings or file an appeal before this Court. Recording the aforesaid, the present appeals preferred by the Resolution Professional are dismissed as not entertained. If required and necessary, the Court can take assistance and ascertain the facts from the Resolution Professional, in case an appeal(s) is preferred by the Committee of Creditors or a third party.

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(2023) ibclaw.in 111 SC

IN THE SUPREME COURT OF INDIA

Regen Powertech Pvt. Ltd.
v.
Giriraj Enterprises & Anr.

Civil Appeal Nos. 5985-6001 of 2023
Decided on 25-Sep-23

Coram: Mr. Justice Sanjiv Khanna and Mr. Justice S.V.N. Bhatti

Add. Info:

Impugned Order: (2023) ibclaw.in 569 NCLAT

Corporate Debtor: Regen Powertech Pvt. Ltd. and Regen Infrastructure and Services Pvt. Ltd.

Judgment/Order:

O R D E R

We are of the opinion that in view of the facts and circumstances, the Resolution Professional should not have filed the present appeals. The Resolution Professional should have maintained a neutral stand. It is for the aggrieved parties, including the Committee of Creditors of Regen Powertech Private Limited (RPPL) and Regen Infrastructure and Services Private Limited (RISPL), to take appropriate proceedings or file an appeal before this Court.

Recording the aforesaid, the present appeals preferred by the Resolution Professional are dismissed as not entertained.

If required and necessary, the Court can take assistance and ascertain the facts from the Resolution Professional, in case an appeal(s) is preferred by the Committee of Creditors or a third party.

Pending application(s), if any, shall stand disposed of.

………………J.
(SANJIV KHANNA)

………………J.
(S.V.N. BHATTI)

NEW DELHI

Original judgment copy is available here.

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