# In the matter of GEI Power Ltd.

> NCLT judgment dated 2026-03-17. Citation: TCN-2026-NCLT-00273. The case involves an Intervention Application (INV. P. 1 of 2026) filed by Carnet Elias…

- **Court:** NCLT
- **Order date:** 17 Mar 2026
- **Citation:** TCN-2026-NCLT-00273
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-indore/gei-power-ltd-199d687a

## Summary

### Background

The case involves an Intervention Application (INV. P. 1 of 2026) filed by Carnet Elias Fernandes, the Suspended Management of GEI Power Ltd. (the Corporate Debtor), seeking impleadment in IA (Plan) No. 5 of 2024, which is an application for approval of a Resolution Plan in the Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor. The Applicant also seeks directions for service of the Resolution Plan and the approval application upon him, and for leave to file objections.

## Facts

Carnet Elias Fernandes, the Suspended Management of GEI Power Ltd., filed an Intervention Application (INV. P. 1 of 2026) seeking impleadment in IA (Plan) No. 5 of 2024.

IA (Plan) No. 5 of 2024 is an application for approval of a Resolution Plan in the CIRP of GEI Power Ltd.

The Adjudicating Authority initiated the CIRP against GEI Power Ltd. on 22.01.2025 in CP(IB)/49(MP)2024.

Jagdish Kumar Parulkar was appointed as the Interim Resolution Professional on 22.01.2025 and was confirmed as the Resolution Professional.

The Committee of Creditors (CoC) approved a Resolution Plan, and an application for approval of the same, being IA (Plan) No. 5 of 2024, has been filed under Section 30(6) of the Code.

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## Issues and analysis

### Issue 1: Whether the Applicant, being the Suspended Management of the Corporate Debtor, is a ‘necessary and …

**Ratio:** The ratio of Vijay Kumar Jain vs. Standard Chartered Bank & Ors. (supra), insofar as

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**Reasoning:** The Tribunal reasoned that the Plan IA is at the pre-approval stage, and no order of

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**Interpretation:** The Tribunal interpreted Section 31 of the Code as limiting its jurisdiction at

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**Application:** The Tribunal applied the principles from Vijay Kumar Jain and Kalyani Transco

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## Parties

- **Judges:** Brajendra Mani…; Man Mohan…
- **Appellants:** Carnet Elias…
- **Respondents:** GEI Powe…; Jagdish Kumar…
- **Other parties:** Jagdish Kumar…
- **Advocates:** Shantnu Cho…; Adhir…; +2 more

## Timeline

- **2025-01-22 — Initiation…**: The Adjudicating Authority initiated the CIRP against the Corporate Debtor, GEI Power…
- **2025-01-22 — Appointment…**: Jagdish Kumar Parulkar was appointed as…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 30(6) — Submission of resolution plan](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-30)

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