# In the matter of Korba West Power Co. Ltd. C.P. (I.B) No. 190-10-NCLT-AHM-2018

> NCLT judgment dated 2018-07-26. Citation: TCN-2018-NCLT-01063. The case pertains to an application filed under Section 10 of the Insolvency and Bankruptcy…

- **Court:** NCLT
- **Order date:** 26 Jul 2018
- **Citation:** TCN-2018-NCLT-01063
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/korba-west-power-co-ltd-cp-ib-no-190-10-nclt-ahm-2018-e19f809c

## Summary

### Background

The case pertains to an application filed under Section 10 of the Insolvency and Bankruptcy Code, 2016, for initiating the Corporate Insolvency Resolution Process (CIRP) against Korba West Power Co. Ltd. The Ahmedabad Bench of the National Company Law Tribunal (NCLT) is hearing the matter. The order sheet documents the attendance of various advocates representing different parties involved in the case.

## Facts

Korba West Power Co. Ltd. is the corporate debtor in this case. An application has been filed under Section 10 of the Insolvency and Bankruptcy Code, 2016, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). The Ahmedabad Bench of the NCLT is hearing the case. Advocates representing Adani Power Ltd., the Petitioner, and Axis Bank are present. The court has admitted the application and declared a moratorium under Sections 13 and 14 of the IBC, prohibiting certain actions against the corporate debtor. Shri Abhijit Guhathakurtha has been appointed as the Interim Resolution Professional (IRP).

## Issues and analysis

### Issue 1: Whether the application under Section 10 of the Insolvency and Bankruptcy Code, 2016, should be …

**Ratio:** Section 10(4) of the Insolvency and Bankruptcy Code, 2016, allows for the admission of an

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**Reasoning:** The court found that the application met the requirements under Section 10 of the IBC,

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**Interpretation:** Section 10 of the IBC provides a mechanism for a corporate applicant to

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**Application:** The court applied Section 10(4) to the facts of the case, determining that the

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## Parties

- **Judges:** Harihar Prakash…
- **Respondents:** Korba West Power…
- **Advocates:** Pronam M…; Abhishek…; +4 more

## Timeline

- **2018-07-26 — Order Da…**: The Ahmedabad Bench of the NCLT admitted the application for CIRP, declared a moratorium,…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

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