The case involves an application (IA No. 551 of 2020) filed by the Resolution Professional (RP) of M/s. Athena Chhattisgarh Power Limited under Section 12(2) of the Insolvency and Bankruptcy Code, 2016, read with Regulation 40C of the Insolvency Resolution Process for Corporate Persons Regulations, 2016. The RP sought exclusion of a period from 2020-03-25 to 2020-06-30 (97 days) from the CIRP timeline due to the COVID-19 pandemic and subsequent lockdown, and also sought an extension of 120 days from 2020-07-01 to 2020-10-28 for completion of the CIRP.
The Resolution Professional (RP) of M/s. Athena Chhattisgarh Power Limited filed an application seeking exclusion of 97 days from the CIRP timeline due to the COVID-19 pandemic and lockdown. The RP also sought an extension of 120 days for completing the CIRP. The CIRP was initiated based on an application under Section 7 of the IBC, 2016, admitted on 2019-05-15. Mr. C. Bala Mouli was appointed as the Interim Resolution Professional (IRP) and later confirmed as RP. The RP published Form G, and Expressions of Interest (EoI) were received from M/s. Adani Power Limited, M/s. Vedanta Limited, and M/s. Megha Engineering & Infrastructure Limited. The CIRP period had already been extended by 90 days and 60 days. APGENCO, along with Vedanta Limited, showed serious interest
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CIRP initiated against…
Application under…
The case involves an application (IA No. 551 of 2020) filed by the Resolution Professional (RP) of M/s. Athena Chhattisgarh Power Limited under Section 12(2) of the Insolvency and Bankruptcy Code, 2016, read with Regulation 40C of the Insolvency Resolution Process for Corporate Persons Regulations, 2016. The RP sought exclusion of a period from 2020-03-25 to 2020-06-30 (97 days) from the CIRP timeline due to the COVID-19 pandemic and subsequent lockdown, and also sought an extension of 120 days from 2020-07-01 to 2020-10-28 for completion of the CIRP.
The Resolution Professional (RP) of M/s. Athena Chhattisgarh Power Limited filed an application seeking exclusion of 97 days from the CIRP timeline due to the COVID-19 pandemic and lockdown. The RP also sought an extension of 120 days for completing the CIRP. The CIRP was initiated based on an application under Section 7 of the IBC, 2016, admitted on 2019-05-15. Mr. C. Bala Mouli was appointed as the Interim Resolution Professional (IRP) and later confirmed as RP. The RP published Form G, and Expressions of Interest (EoI) were received from M/s. Adani Power Limited, M/s. Vedanta Limited, and M/s. Megha Engineering & Infrastructure Limited. The CIRP period had already been extended by 90 days and 60 days. APGENCO, along with Vedanta Limited, showed serious interest
…CIRP initiated against…
Application under…