# In the matter of Athena Energy Ventures Pvt. Ltd. CP(IB) No. 466-7-HDB-2019

> NCLT judgment dated 2021-04-16. Citation: TCN-2021-NCLT-02368. The case involves a company petition/application filed under Section 7 of the Insolvency and…

- **Court:** NCLT
- **Order date:** 16 Apr 2021
- **Citation:** TCN-2021-NCLT-02368
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/athena-energy-ventures-pvt-ltd-cpib-no-466-7-hdb-2019-59868763

## Summary

### Background

The case involves a company petition/application filed under Section 7 of the Insolvency and Bankruptcy Code (IBC). The learned counsel for the Financial Creditor appeared. Hon'ble NCLAT in Appeal No.633/2020 vide order dated 24.11.2020 admitted the Corporate Debtor under CIRP U/s.7 by appointing IRP.

## Facts

The case originates from a company petition/application. Athena Energy Ventures Pvt Ltd is the Corporate Debtor. State Bank of India is the Petitioner. The NCLAT in Appeal No.633/2020 vide order dated 24.11.2020 admitted the Corporate Debtor under CIRP U/s.7 by appointing IRP. The court then passed an order of admission of Corporate Debtor under CIRP.

## Issues and analysis

### Issue 1: Whether the order of admission of the Corporate Debtor under CIRP should be passed based on the …

**Ratio:** The ratio is based on the principle that decisions of appellate tribunals like NCLAT are

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**Reasoning:** The court reasoned that since the NCLAT had already admitted the Corporate Debtor under

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**Interpretation:** This involves interpreting the binding nature of appellate tribunal decisions

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**Application:** The NCLAT's decision in Appeal No. 633/2020 was applied to the current case,

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## Parties

- **Judges:** Madan B.…; BINOD KUMAR…
- **Appellants:** State Bank of…
- **Respondents:** Athena Energy…

## Timeline

- **2020-11-24 — NCLAT Or…**: Hon'ble NCLAT in Appeal No.633/2020 admitted the Corporate Debtor under CIRP U/s.7 by…
- **2021-04-16 — Court He…**: Hearing held on 16.04.2021 at…

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