# In the matter of Committee of Creditors of Bhushan Power and Steel Limited Through State Bank of India Vs. Mahendra Kumar Khandelwal CA (AT (Insolvency) No. 562-2019

> NCLAT judgment dated 2019-06-11. Citation: TCN-2019-NCLAT-00507. The case involves an appeal against an order dated 23rd April 2019 passed by the Adjudicating…

- **Court:** NCLAT
- **Order date:** 11 Jun 2019
- **Citation:** TCN-2019-NCLAT-00507
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/committee-of-creditors-of-bhushan-power-and-steel-limited-through-state-bank-of-12b93a9e

## Summary

### Background

The case involves an appeal against an order dated 23rd April 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi, in (IB)-202(PB)/2017. The Committee of Creditors of Bhushan Power and Steel Limited, through State Bank of India, filed the appeal. The matter was previously remitted back to the Adjudicating Authority for reconsideration of the Resolution Plan submitted by JSW Steel. The Hon'ble High Court of Punjab and Haryana passed certain directions on 18th April, 2019, which led to the current appeal.

## Facts

The Committee of Creditors of Bhushan Power and Steel Limited, through State Bank of India, filed an appeal against an order dated 23rd April 2019 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi. The matter was previously remitted to the Adjudicating Authority for reconsideration of the Resolution Plan submitted by JSW Steel. The Hon'ble High Court of Punjab and Haryana passed certain directions on 18th April, 2019, in CWP No.10325 of 2019, directing the Adjudicating Authority to follow certain procedures. Ravi Prakash Goyal and Sanjay Singal, erstwhile Directors and Promoters of Bhushan Power and Steel Limited, opposed the prayer. The High Court's order was passed ex-parte without notice to the Respondent-Punjab

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## Issues and analysis

### Issue 1: Whether the appeal under Section 61 is maintainable in the absence of any decision by the …

**Ratio:** An appeal under Section 61 is not maintainable in the absence of any decision by the

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**Reasoning:** The Appellate Tribunal stated that it is not inclined to entertain the appeal in the

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**Interpretation:** Section 61 of the relevant law likely pertains to appeals against orders of the

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**Application:** Since the Adjudicating Authority had not yet passed a final order, the appeal

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## Parties

- **Judges:** S.J. Mukhop…; A.I.S. C…; +2 more
- **Appellants:** Committee of…
- **Respondents:** Bhushan Power &…; Mahendra Kumar…

## Timeline

- **2019-04-23 — Order by Adjudicating…**: Order passed by the Adjudicating Authority (National Company Law Tribunal), Principal…
- **2019-02-04 — Order by Appellate…**: Appellate Tribunal passed an order in Company Appeal (AT) (Insolvency) No.198 of 2018,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 61 — Appeals and Appellate Authority](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-61)

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