The case involves an appeal against an order by the National Company Law Tribunal (NCLT), New Delhi, which rejected I.A. No. 3197/ND/2020 filed by the Appellant, Athena Demwe Power Ltd. The Appellant had awarded a contract to the Corporate Debtor, Abir Infrastructure Private Limited, for the execution of a hydroelectric project. A mobilization advance of Rs. 7,48,40,06,136/- was transferred by the Appellant to the Corporate Debtor. Subsequently, the Corporate Debtor issued a Corporate Guarantee in favor of the Appellant, which was later extended. The Adjudicating Authority initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Appellant filed a claim as a Financial Creditor, which was initially accepted by the Resolution Professional
…Athena Demwe Power Ltd. (Appellant) awarded a contract to Abir Infrastructure Private Limited (Corporate Debtor) for a 1750 MW hydroelectric project in Arunachal Pradesh on December 24, 2010. The Appellant transferred Rs. 7,48,40,06,136/- as a mobilization advance to the Corporate Debtor via bank transfer. On February 14, 2011, the Corporate Debtor issued a Corporate Guarantee in favor of the Appellant, which was extended until November 23, 2021. The Adjudicating Authority initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Appellant filed a claim for Rs. 1784,99,28,651/- as a Financial Creditor on April 26, 2019. The Resolution Professional (RP) informed the Appellant that its claim did not qualify as a Financial Creditor but as
…Sign in to view the parties.
Appellant awarded a…
Corporate Debtor issued…
The case involves an appeal against an order by the National Company Law Tribunal (NCLT), New Delhi, which rejected I.A. No. 3197/ND/2020 filed by the Appellant, Athena Demwe Power Ltd. The Appellant had awarded a contract to the Corporate Debtor, Abir Infrastructure Private Limited, for the execution of a hydroelectric project. A mobilization advance of Rs. 7,48,40,06,136/- was transferred by the Appellant to the Corporate Debtor. Subsequently, the Corporate Debtor issued a Corporate Guarantee in favor of the Appellant, which was later extended. The Adjudicating Authority initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Appellant filed a claim as a Financial Creditor, which was initially accepted by the Resolution Professional
…Athena Demwe Power Ltd. (Appellant) awarded a contract to Abir Infrastructure Private Limited (Corporate Debtor) for a 1750 MW hydroelectric project in Arunachal Pradesh on December 24, 2010. The Appellant transferred Rs. 7,48,40,06,136/- as a mobilization advance to the Corporate Debtor via bank transfer. On February 14, 2011, the Corporate Debtor issued a Corporate Guarantee in favor of the Appellant, which was extended until November 23, 2021. The Adjudicating Authority initiated Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The Appellant filed a claim for Rs. 1784,99,28,651/- as a Financial Creditor on April 26, 2019. The Resolution Professional (RP) informed the Appellant that its claim did not qualify as a Financial Creditor but as
…Appellant awarded a…
Corporate Debtor issued…