Mahender Kumar Khandelwal filed a writ petition in the High Court of Delhi challenging a penalty of Rs. 29,24,167 imposed by the Insolvency and Bankruptcy Board of India (IBBI). The petitioner sought interim relief. The court directed the petitioner to deposit the penalty amount with the court registry, which would be invested in a fixed deposit. The Corporate Depositor involved is M/s Bhushan Power and Steel Limited. The Committee of Creditors (COC) was directed to consider depositing Rs. 12,09,90,185 in the Corporate Depositor's account, based on a resolution approved by 96.53% of the creditors. The petitioner is given liberty to place this order before the COC concerned with M/s K.S.K. Mahanadi Power Company Limited (KSK).

Mahender Kumar Khandelwal filed a writ petition in the High Court of Delhi challenging a penalty of Rs. 29,24,167 imposed by the Insolvency and Bankruptcy Board of India (IBBI). The petitioner sought interim relief. The court directed the petitioner to deposit the penalty amount with the court registry, which would be invested in a fixed deposit. The Corporate Depositor involved is M/s Bhushan Power and Steel Limited. The Committee of Creditors (COC) was directed to consider depositing Rs. 12,09,90,185 in the Corporate Depositor's account, based on a resolution approved by 96.53% of the creditors. The petitioner is given liberty to place this order before the COC concerned with M/s K.S.K. Mahanadi Power Company Limited (KSK).