M/s. Grid Infra Tech Pvt. Ltd. (Appellant) initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Hythro Power Corporation Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal) adjourned the proceedings sine die, citing an order from the Supreme Court. The Appellant appealed this decision. The Supreme Court had transferred several writ petitions related to the Reserve Bank of India's decision from various High Courts and directed the maintenance of status quo. The Corporate Debtor is to act as a developer for power projects in the private sector and to design, test and commission the electromechanical equipment and accessories of Hidel thermal power projects.

M/s. Grid Infra Tech Pvt. Ltd. (Appellant) initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Hythro Power Corporation Ltd. (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal) adjourned the proceedings sine die, citing an order from the Supreme Court. The Appellant appealed this decision. The Supreme Court had transferred several writ petitions related to the Reserve Bank of India's decision from various High Courts and directed the maintenance of status quo. The Corporate Debtor is to act as a developer for power projects in the private sector and to design, test and commission the electromechanical equipment and accessories of Hidel thermal power projects.