# In the matter of Athena Chattisgarh Power Limited CP (IB) No. 54-9-HDB-2017

> NCLT judgment dated 2017-12-04. Citation: TCN-2017-NCLT-00105. The case involves a Company Petition filed by Energy Infraconsulting India Pvt. Limited…

- **Court:** NCLT
- **Order date:** 4 Dec 2017
- **Citation:** TCN-2017-NCLT-00105
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/athena-chattisgarh-power-limited-cp-ib-no-54-9-hdb-2017-9df256b3

## Summary

### Background

The case involves a Company Petition filed by Energy Infraconsulting India Pvt. Limited (Operational Creditor) against Athena Chhattisgarh Power Limited (Corporate Debtor) under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of the Corporate Insolvency Resolution Process (CIRP). The Operational Creditor claimed that the Corporate Debtor owed them Rs.72,17,171/- towards various invoices. The Adjudicating Authority initially admitted the petition and appointed an Interim Resolution Professional (IRP). However, the IRP faced difficulties in initiating the CIRP due to the Operational Creditor's inability to bear the costs of public announcement and professional fees. The IRP also reported that the Operational Creditor had not provided the

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## Facts

Energy Infraconsulting India Pvt. Limited (Operational Creditor) filed a Company Petition against Athena Chhattisgarh Power Limited (Corporate Debtor) claiming a debt of Rs.72,17,171/-. The Adjudicating Authority admitted the petition on 2017-08-14 and appointed Mr.Naga Bhushan Bhagawati as the Interim Resolution Professional (IRP). The IRP requested the Operational Creditor to provide funds for the public announcement and professional fees, but the Operational Creditor expressed inability due to financial constraints. The IRP also stated that the Operational Creditor did not provide the necessary information and consent for the appointment. The Director of the Operational Creditor, Mr.Moiz Khan, submitted that the company was facing financial difficulties and could

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## Issues and analysis

### Issue 1: Whether the Corporate Insolvency Resolution Process (CIRP) can be initiated against Athena …

**Ratio:** The initiation of CIRP requires the Operational Creditor to bear the costs of the

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**Reasoning:** The court reasoned that the Operational Creditor's inability to bear the costs and their

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**Interpretation:** The legal issue revolves around the practical requirements for initiating and

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**Application:** In this case, the Operational Creditor's inability to meet the financial

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## Parties

- **Judges:** Rajeswara Rao…; Ravikumar…; +1 more
- **Appellants:** M/s. Energy…
- **Respondents:** M/s. Athena…

## Timeline

- **2017-08-14 — Petition Ad…**: The Adjudicating Authority admitted the petition filed by the Operational Creditor and…
- **2017-09-12 — IRP Affi…**: Mr.B.Naga Bhushan, IRP, filed an affidavit requesting the Operational Creditor to provide…

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