# In the matter of Shree Maheshwar Hydel Power Corporation Limited TP(IBC)-1(KB)2022 (TP 258 of 2019, CP (IB) 111-7-NCLT(AHM-2018)
TA (IBC)-1(KB)2022, (IVNP.53 of 2018)
TA (IBC)-3(KB)2022, (IVNP.54 of 2018)
TA (IBC)-2(KB)2022 (IA 60 of 2020)

> NCLT judgment dated 2022-05-02. Citation: TCN-2022-NCLT-02925. The case involves Power Finance Corporation Limited versus Shree Maheshwar Hydel Power…

- **Court:** NCLT
- **Order date:** 2 May 2022
- **Citation:** TCN-2022-NCLT-02925
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-division-bench-court-i-chenn/shree-maheshwar-hydel-power-corporation-limited-tpibc-1kb2022-tp-258-of-2019-cp-dd8d040e

## Summary

### Background

The case involves Power Finance Corporation Limited versus Shree Maheshwar Hydel Power Corporation Limited, under Section 7 of the IBC. The matter is being heard by the National Company Law Tribunal (NCLT), Indore Bench, Referral Bench at Kolkata. Several applications and interventions are involved, including TP(IBC)/1(KB)2022, TA (IBC)/1(KB)2022, TA (IBC)/3(KB)2022, TA (IBC)/2(KB)2022, and others. The hearing was conducted via video conferencing.

## Facts

Power Finance Corporation Limited has initiated proceedings against Shree Maheshwar Hydel Power Corporation Limited under Section 7 of the IBC. The case involves multiple applications and interventions. Counsels representing the Financial Creditor, Corporate Debtor, Entegra Ltd., and a proposed intervenor have presented their arguments. The court has scheduled a further hearing for arguments in rejoinder.

## Issues and analysis

### Issue 1: Whether the arguments presented by the counsels for the Financial Creditor, Corporate Debtor, …

**Ratio:** The principle of natural justice requires that all parties be given a fair opportunity to

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**Reasoning:** The court has heard the counsels appearing for the Corporate Debtor, Entegra Ltd., and

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**Interpretation:** This issue involves the interpretation of procedural fairness and the right to

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**Application:** The court's decision to schedule a further hearing for arguments in rejoinder

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## Parties

- **Judges:** Rajasekha…
- **Appellants:** Power Finance…
- **Respondents:** Shree Maheshwar…

## Timeline

- **2022-05-02 — Hearing…**: Hearing held on May…
- **2022-05-06 — Next Hearin…**: Next hearing scheduled on May 6th, 2022, at…

## 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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