The case involves an application (IA 693/2021) filed by the ex-Resolution Professional (RP) and Chairman of the Monitoring Committee of Indira Priyadarshini Hydro Power Pvt. Ltd. under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), seeking a direction from the National Company Law Tribunal (NCLT) to Andritz Hydro Private Limited (Respondent 1) to hand over plant and machinery located at its warehouse to Manikaran Power Limited (Respondent 2), the successful Resolution Applicant (SRA). The Corporate Insolvency Resolution Process (CIRP) was initiated against Indira Priyadarshini Hydro Power Pvt. Ltd. based on a Section 9 application filed by Andritz Hydro Private Limited. The resolution plan submitted by Manikaran Power Limited was approved on 02.07.2021.
…1. A Company Petition CP(IB)110/9/HDB/2019 was filed by M/s.Andritz Hydro Power Limited/Operational Creditor against M/s.Indira Priyadarshini Hydro Power Pvt. Ltd./Corporate Debtor under Section 9 of the Insolvency & Bankruptcy Code, 2016.
2. The Adjudicating Authority appointed Mr.Nethi Mallikarjuna Setty as Interim Resolution Professional (IRP) on 12.12.2019.
3. The IRP issued a public announcement on 18.12.2019.
4. Mr.Ravindra Beleyur was appointed as Resolution Professional (RP) on 27.01.2020, replacing Mr.Nethi Mallikarjuna Setty.
5. The RP took charge of the Corporate Debtor on 16.03.2020 and appointed two Registered Valuers.
6. Some of the Plant and Machinery are in the possession of M/s.Andritz Hydro Private Limited/Operational Creditor/Respondent 1.
7. The
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Mr.Nethi Mallikarjuna…
IRP issued a…
The case involves an application (IA 693/2021) filed by the ex-Resolution Professional (RP) and Chairman of the Monitoring Committee of Indira Priyadarshini Hydro Power Pvt. Ltd. under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), seeking a direction from the National Company Law Tribunal (NCLT) to Andritz Hydro Private Limited (Respondent 1) to hand over plant and machinery located at its warehouse to Manikaran Power Limited (Respondent 2), the successful Resolution Applicant (SRA). The Corporate Insolvency Resolution Process (CIRP) was initiated against Indira Priyadarshini Hydro Power Pvt. Ltd. based on a Section 9 application filed by Andritz Hydro Private Limited. The resolution plan submitted by Manikaran Power Limited was approved on 02.07.2021.
…1. A Company Petition CP(IB)110/9/HDB/2019 was filed by M/s.Andritz Hydro Power Limited/Operational Creditor against M/s.Indira Priyadarshini Hydro Power Pvt. Ltd./Corporate Debtor under Section 9 of the Insolvency & Bankruptcy Code, 2016.
2. The Adjudicating Authority appointed Mr.Nethi Mallikarjuna Setty as Interim Resolution Professional (IRP) on 12.12.2019.
3. The IRP issued a public announcement on 18.12.2019.
4. Mr.Ravindra Beleyur was appointed as Resolution Professional (RP) on 27.01.2020, replacing Mr.Nethi Mallikarjuna Setty.
5. The RP took charge of the Corporate Debtor on 16.03.2020 and appointed two Registered Valuers.
6. Some of the Plant and Machinery are in the possession of M/s.Andritz Hydro Private Limited/Operational Creditor/Respondent 1.
7. The
Mr.Nethi Mallikarjuna…
IRP issued a…