# In the matter of Athena Demwe Power Ltd. IB No. (IB)-244-(ND)-2017

> NCLT judgment dated 2018-03-22. Citation: TCN-2018-NCLT-01659. The Resolution Professional (RP) filed an application seeking discharge in the case. The period…

- **Court:** NCLT
- **Order date:** 22 Mar 2018
- **Citation:** TCN-2018-NCLT-01659
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/athena-demwe-power-ltd-ib-no-ib-244-nd-2017-685e4e36

## Summary

### Background

The Resolution Professional (RP) filed an application seeking discharge in the case. The period of 180 days for arriving at a Resolution Plan is expiring on March 27, 2018. The court finds it incomprehensible why the RP waited so long to seek a discharge and sees no justification for the work done during this period.

## Facts

The Resolution Professional (RP) filed an application seeking discharge. The 180-day period for arriving at a Resolution Plan is expiring on March 27, 2018. The court questions the RP's delay in seeking discharge and finds no justification for the work done during this period. Notice was issued to the IBBI and the Indian Bank. The case is scheduled to come up on April 3, 2018.

## Issues and analysis

### Issue 1: Whether the Resolution Professional's delay in seeking discharge is justified given the impending …

**Ratio:** Resolution Professionals are expected to act diligently and promptly in carrying out

…

**Reasoning:** The court finds it incomprehensible that the RP waited until the end of the 180-day

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**Interpretation:** The IBC emphasizes timely resolution of insolvency matters. Delay in seeking

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**Application:** The RP's application for discharge near the expiry of the resolution period,

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## Parties

- **Judges:** DeepaKr…; Ina Mal…
- **Appellants:** Sameer Rastogi,…
- **Respondents:** Athena Demwe…
- **Advocates:** Sameer Ra…

## Timeline

- **2018-03-22 — Hearing…**: Hearing before the New Delhi Bench of…
- **2018-03-27 — Resolution Pla…**: The period of 180 days for arriving…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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