# In the matter of Southern Power Distribution Company of Telangana Ltd. vs. Kalvakolanu Murali Krishna Prasad, RP for Vaksh Steels Pvt. Ltd. & Ors.

> NCLAT judgment dated 2024-10-01. Citation: TCN-2024-NCLAT-00169. The case involves a Company Appeal concerning the impugned order dated 31.01.2020, passed in…

- **Court:** NCLAT
- **Order date:** 1 Oct 2024
- **Citation:** TCN-2024-NCLAT-00169
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/southern-power-distribution-company-of-telangana-ltd-vs-kalvakolanu-murali-krish-cddc7445

## Summary

### Background

The case involves a Company Appeal concerning the impugned order dated 31.01.2020, passed in IA/69/2020, rendered in CP(IB)/499/7/HDB/2018. As a consequence of the impugned order, the revised final Resolution Plan dated 04.01.2020, submitted by M/s. SVSS Commercial Pvt. Ltd., was approved by the Committee of Creditors with 100% voting shares, as per Section 31(1) of the Code. The appeal challenges this approval of the resolution plan. The Company Appeal was initially filed on 28.05.2021, without a condonation of delay application.

## Facts

The Southern Power Distribution Company of Telangana Ltd. filed a Company Appeal against the approval of a resolution plan for Vaksh Steels Pvt. Ltd. The revised final Resolution Plan dated 04.01.2020, submitted by SVSS Commercial Pvt. Ltd., was approved by the Committee of Creditors. The Impugned Order was passed on 31.01.2020. The Company Appeal was preferred on 28.05.2021, without a condonation of delay application. The Appellant applied for the Certified Copy of the Judgment only on 30.04.2021. The Appellant was a member of the Committee of Creditors (CoC) and had knowledge of the CIRP proceedings. The Hon'ble Apex Court had extended the period of limitation from 15.03.2020 to 28.02.2022 due to the Covid-19 pandemic. The key fact is that the appellant did not apply

…

## Issues and analysis

### Issue 1: Whether the delay in filing the appeal can be condoned considering the extended period of …

**Ratio:** The ratio is that the benefit of the extended period of limitation due to Covid-19 is

…

**Reasoning:** The court reasoned that the appellant's failure to apply for a certified copy within the

…

**Interpretation:** The interpretation is that the Supreme Court's orders extending limitation

…

**Application:** The court applied this ratio to the facts by noting that the appellant had

…

## Parties

- **Judges:** Sharad Kumar…; Jatindranat…
- **Appellants:** Southern Power…
- **Respondents:** Vaksh Steels Pvt…; SVSS Commercial…

## Timeline

- **2020-01-04 — Revised Resolu…**: Revised final Resolution Plan submitted…
- **2020-01-31 — Impugned…**: Impugned Order passed in IA/69/2020,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 31(1) — Approval of resolution plan](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-31)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/southern-power-distribution-company-of-telangana-ltd-vs-kalvakolanu-murali-krish-cddc7445