# 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-00233. 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-00233
- **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-a78c9e6c

## 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 already been excluded from the CIRP based on prior orders. The applicant argues that delays in the Scheduled Commercial Operation date of a transmission line project, due to external factors and delays in handing over critical documents from the liquidator of Isolux Corsan India Engineering & Constructions Private Limited, justify the exclusion. Extensions were also granted to prospective resolution

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## Facts

The South East U.P. Power Transmission Company Limited is undergoing Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated on 06.07.2020. Mr. Rajesh Samon was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Shailesh Verma. An application was filed by Mr. Shailesh Verma, the Resolution Professional (RP), seeking the exclusion of 90 days from the CIRP period. Previously, 224 days had been excluded from the CIRP. The request for exclusion is based on delays in the Scheduled Commercial Operation date of the 765kV S/C Mainpuri-Bara transmission line project. These delays are attributed to external factors and delays in handing over critical documents from the liquidator of Isolux Corsan India Engineering &

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## Issues and analysis

### Issue 1: Whether the exclusion of 90 days from the Corporate Insolvency Resolution Process (CIRP) period, as …

**Ratio:** The ratio is based on the principle that the CIRP period can be extended in exceptional

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**Reasoning:** The court reasoned that the delays in the Scheduled Commercial Operation date of the

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**Interpretation:** The interpretation involves understanding the provisions of the Insolvency and

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**Application:** The ratio and reasoning are applied to the specific facts of the case, where

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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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