# In the matter of South East U.P. Power Transmission Company Ltd. IA No.363-2021 In CP No.(IB)107-ALD-2019

> NCLT judgment dated 2021-12-08. Citation: TCN-2021-NCLT-00228. The case involves an application filed by the Resolution Professional (RP) of South East U.P.…

- **Court:** NCLT
- **Order date:** 8 Dec 2021
- **Citation:** TCN-2021-NCLT-00228
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/south-east-up-power-transmission-company-ltd-ia-no363-2021-in-cp-noib107-ald-201-155ef16b

## Summary

### Background

The case involves an application filed by the Resolution Professional (RP) of South East U.P. Power Transmission Company Limited seeking the exclusion of 90 days from the Corporate Insolvency Resolution Process (CIRP) period. The CIRP was initiated on 06.07.2020, and the RP was initially Mr. Rajesh Samon, later replaced by Mr. Shailesh Verma. Previously, 224 days had been excluded from the CIRP based on prior orders, setting the completion date for the CIRP as 12.12.2021. The RP argues for an additional exclusion due to delays in the Scheduled Commercial Operation date of a transmission line project caused by external factors and delays in handing over critical documents from the liquidator of Isolux Corsan India Engineering & Constructions Private Limited.

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## Facts

The Corporate Insolvency Resolution Process (CIRP) of South East U.P. Power Transmission Company Limited was initiated on 06.07.2020. Mr. Rajesh Samon was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Shailesh Verma. The Resolution Professional (RP) filed an application seeking exclusion of 90 days from the CIRP period. Previously, 224 days had already been excluded based on earlier orders. The request for exclusion was based on delays in the Scheduled Commercial Operation date of the 765kV S/C Mainpuri-Bara transmission line due to external factors and delays in receiving documents from the liquidator of Isolux Corsan India Engineering & Constructions Private Limited. Extensions totaling 103 days were granted to

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## Issues and analysis

### Issue 1: Whether the exclusion of 90 days from the CIRP period, as requested by the Resolution Professional, …

**Ratio:** The court can exclude time periods from the CIRP under exceptional circumstances,

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**Reasoning:** The court considered the delays in the transmission line project, the extensions granted

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**Interpretation:** The interpretation of the Insolvency and Bankruptcy Code allows for flexibility

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**Application:** The court applied the ratio to the specific facts, finding that the delays and

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## Parties

- **Judges:** Rajasekha…; Virendra Kumar…
- **Appellants:** Shailesh…
- **Respondents:** South East U.P.…; Power Finance…

## Timeline

- **2020-07-06 — CIRP Init…**: Corporate Insolvency Resolution Process (CIRP) initiated for South East U.P. Power…
- **2020-07-06 — Appointment…**: Mr. Rajesh Samon appointed as the…

## 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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