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 by the NCLT on
…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, which was admitted.
2. Mr.Nethi Mallikarjuna Setty was appointed as Interim Resolution Professional (IRP) on 12.12.2019.
3. Mr.Ravindra Beleyur was appointed as Resolution Professional (RP) on 03.03.2020, replacing Mr.Nethi Mallikarjuna Setty.
4. The RP took charge of the Corporate Debtor on 16.03.2020 and appointed two Registered Valuers to determine the fair value and liquidation value of the Corporate Debtor.
5. Some of the Plant and Machinery to be installed at the project site of the Corporate Debtor are still in the possession
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Mr.Nethi Mallikarjuna…
The IRP issued a public…
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 by the NCLT on
…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, which was admitted.
2. Mr.Nethi Mallikarjuna Setty was appointed as Interim Resolution Professional (IRP) on 12.12.2019.
3. Mr.Ravindra Beleyur was appointed as Resolution Professional (RP) on 03.03.2020, replacing Mr.Nethi Mallikarjuna Setty.
4. The RP took charge of the Corporate Debtor on 16.03.2020 and appointed two Registered Valuers to determine the fair value and liquidation value of the Corporate Debtor.
5. Some of the Plant and Machinery to be installed at the project site of the Corporate Debtor are still in the possession
Mr.Nethi Mallikarjuna…
The IRP issued a public…