The case involves an appeal filed by Power Infrastructure India against an order passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) on an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Power Finance Corporation Limited (Financial Creditor) against Shree Maheshwar Hydel Power Corporation Limited (Corporate Debtor). The appeal challenges the order dated 27.09.2022. The appellant filed an application before the Adjudicating Authority as a proposed intervenor, which was dismissed for lack of locus standi. The current matter concerns the condonation of a 14-day delay in filing the appeal.
Power Finance Corporation Limited initiated insolvency proceedings against Shree Maheshwar Hydel Power Corporation Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority admitted the application for resolution of an amount of Rs. 2789,42,00,000/-. Power Infrastructure India, the appellant, sought to intervene in the proceedings but was denied. The appellant then filed an appeal against the Adjudicating Authority's order, which was allegedly delayed by 14 days. The impugned order was passed on 27.09.2022 and uploaded on 28.09.2022. The e-filing of the appeal was done on 11.11.2022, and the physical filing was done on 14.11.2022. The appellant attributed the delay to being a foreign company based in Mauritius, requiring legal
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The Adjudicating Authority (National Company Law…
The order passed by the…
The case involves an appeal filed by Power Infrastructure India against an order passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) on an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Power Finance Corporation Limited (Financial Creditor) against Shree Maheshwar Hydel Power Corporation Limited (Corporate Debtor). The appeal challenges the order dated 27.09.2022. The appellant filed an application before the Adjudicating Authority as a proposed intervenor, which was dismissed for lack of locus standi. The current matter concerns the condonation of a 14-day delay in filing the appeal.
Power Finance Corporation Limited initiated insolvency proceedings against Shree Maheshwar Hydel Power Corporation Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority admitted the application for resolution of an amount of Rs. 2789,42,00,000/-. Power Infrastructure India, the appellant, sought to intervene in the proceedings but was denied. The appellant then filed an appeal against the Adjudicating Authority's order, which was allegedly delayed by 14 days. The impugned order was passed on 27.09.2022 and uploaded on 28.09.2022. The e-filing of the appeal was done on 11.11.2022, and the physical filing was done on 14.11.2022. The appellant attributed the delay to being a foreign company based in Mauritius, requiring legal
…The Adjudicating Authority (National Company Law…
The order passed by the…