# In the matter of Adhunik Alloys & Power Limited

> NCLT judgment dated 2026-04-08. Citation: TCN-2026-NCLT-00364. State Bank of India filed an application (CP (IB) No. 387/KB/2017) against M/s Adhunik Alloys…

- **Court:** NCLT
- **Order date:** 8 Apr 2026
- **Citation:** TCN-2026-NCLT-00364
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-kolkata/adhunik-alloys-power-limited-de9bc15b

## Summary

### Background

State Bank of India filed an application (CP (IB) No. 387/KB/2017) against M/s Adhunik Alloys and Power Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority admitted the Corporate Debtor into Corporate Insolvency Resolution Process (CIRP) on 23.08.2017.

## Facts

State Bank of India initiated CIRP against M/s Adhunik Alloys and Power Limited (Corporate Debtor) under Section 7 of IBC.

The Adjudicating Authority admitted the Corporate Debtor into CIRP on 23.08.2017.

A Resolution Plan submitted by Bhagwati Power and Steel Limited (SRA/Respondent No.2) was approved on 07.12.2018.

The Deputy Commissioner of Commercial Taxes and Ors. (Applicants) filed an application seeking documents related to CIRP.

The Applicants claimed they were not issued notices during CIRP and the CoC did not share documents.

The Applicants alleged that the RP committed criminal misconduct by downloading Form Cs without authorization.

The Resolution Professional and SRA argued that the application is not maintainable and the documents sought are confidential.

…

## Issues and analysis

### Issue 1: Whether the present Application filed under Section 60(5) of the Code is maintainable in view of …

**Ratio:** Once a Resolution Plan has been approved by the Adjudicating Authority under Section 31

…

**Reasoning:** The Hon'ble Supreme Court in CoC of Essar Steel India Ltd. Vs. Satish Kumar Gupta &

…

**Interpretation:** Claims not included in the resolution

…

**Application:** The reliefs sought by the Applicants, who are statutory authorities, cannot be

…

## Parties

- **Judges:** BIDISHA BA…; Cmde Siddharth…
- **Appellants:** State Bank of…; Deputy Commissione…
- **Respondents:** M/S ADHUNIK…; ADHUNIK ALLOYS…; +1 more
- **Advocates:** Anuj S…; Trinish…; +1 more

## Timeline

- **2017-08-23 — Admission in…**: The Adjudicating Authority admitted the Corporate Debtor into Corporate Insolvency…
- **2018-12-07 — Approval of Resolution…**: The Adjudicating Authority approved the Resolution Plan submitted by Bhagwati Power and…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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