The case involves an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC) by Bhagwati Power & Steels Limited, the successful resolution applicant, and Amalgram Steel & Power Limited, the Corporate Debtor. The applicants sought to quash demands raised by the respondents, Principal Secretary, Department of Energy and Director, Jharkhand Renewable Energy Development Agency, related to Renewable Purchase Obligation (RPO) compliance. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 23.08.2017. The resolution plan was approved on 07.12.2018. The respondents claimed dues for non-compliance of RPO for financial years 2011-12 to 2018-19. The applicants contended that these claims were not submitted
…Amalgram Steel & Power Limited (Corporate Debtor) was admitted into Corporate Insolvency Resolution Process (CIRP) on 23.08.2017, following an application under Section 7 of the Insolvency and Bankruptcy Code (IBC). Bhagwati Power & Steels Limited was the successful resolution applicant. The Jharkhand Renewable Energy Development Agency (JREDA) and the Principal Secretary, Department of Energy (Respondents), issued demand notices to the Corporate Debtor for non-compliance with Renewable Purchase Obligation (RPO) for the financial years 2011-12 to 2018-19. The first demand notice, for the period 2011-12 to 2016-17, was issued on 18.08.2018, during the moratorium period under Section 14 of the IBC. The second demand notice, for the period 2017-18 and 2018-19, was
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The case involves an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC) by Bhagwati Power & Steels Limited, the successful resolution applicant, and Amalgram Steel & Power Limited, the Corporate Debtor. The applicants sought to quash demands raised by the respondents, Principal Secretary, Department of Energy and Director, Jharkhand Renewable Energy Development Agency, related to Renewable Purchase Obligation (RPO) compliance. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 23.08.2017. The resolution plan was approved on 07.12.2018. The respondents claimed dues for non-compliance of RPO for financial years 2011-12 to 2018-19. The applicants contended that these claims were not submitted
…Amalgram Steel & Power Limited (Corporate Debtor) was admitted into Corporate Insolvency Resolution Process (CIRP) on 23.08.2017, following an application under Section 7 of the Insolvency and Bankruptcy Code (IBC). Bhagwati Power & Steels Limited was the successful resolution applicant. The Jharkhand Renewable Energy Development Agency (JREDA) and the Principal Secretary, Department of Energy (Respondents), issued demand notices to the Corporate Debtor for non-compliance with Renewable Purchase Obligation (RPO) for the financial years 2011-12 to 2018-19. The first demand notice, for the period 2011-12 to 2016-17, was issued on 18.08.2018, during the moratorium period under Section 14 of the IBC. The second demand notice, for the period 2017-18 and 2018-19, was
…Corporate Debtor admitted into Corporate…
Public announcement inviting claims from…