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Tribunals and CommissionsDivision Bench(2022) 09 NCLT CK 0062

Power Finance Corporation vs Shree Maheshwar Hydel Power Corporation Ltd

National Company Law Tribunal · Decided on 30 September 2022

HON’BLE JUDGES
Dr. Madan B. Gosavi, Member, (J) · Kaushalendra Kumar Singh, Member (T)
RESULT
Disposed Of
CASE NUMBER
IA/160(MP)2021 in TP 258 Of 2019 [CP(IB) 111 Of 2018]
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Judgment

5 paragraphs · 165 words

IA/160(MP)2021

This application is filed by the Financial Creditor i.e., Power Finance Corporation Ltd seeking permission to replace the present IRP, Mr. Rishi Prakash Vats from the duty of the IRP of the Corporate Debtor i.e., Shree Maheshwar Hydel Power Corporation Ltd in TP 258 of 2019 [CP(IB) 111 of 2018] and to appoint newly proposed IRP, Mr. Apoorv Sarvaria having Registration No. IBBI/IPA-002/IP-N01073/2020-2021/13444 to act as an IRP of the Corporate Debtor i.e., Shree Maheshwar Hydel Power Corporation Ltd in TP 258 of 2019 [CP(IB) 111 of 2018].

We heard the learned counsel, Mr. Deepak Khurana appearing for the Financial Creditor.

We allow this application and appoint newly proposed IRP, Mr. Apoorv Sarvaria having Registration No. IBBI/IPA-002/IP-N01073/2020-2021/13444 to act as an IRP of the Corporate Debtor i.e., Shree Maheshwar Hydel Power Corporation Ltd in TP 258 of 2019 [CP(IB) 111 of 2018] and the newly proposed IRP to proceed with the CIRP as per the Rules.

With this, IA/160(MP)2021 stands allowed and disposed of