Maharashtra State Load Dispatch Center ... vs Sri City Pvt. Ltd. & Ors

Maharashtra State Load Dispatch Center (MSLDC) ...Appellant

Vs.

Sri City Pvt. Ltd. & Ors. ...Respondents

Present: For Appellant: - Mr. Sudhanshu S. Choudhari, Mr. Yogesh S. Kolte and Mr. Mahesh P. Shinde, Advocates.

For Respondents: - Ms. Vishrutyi Sahni, Advocate for R-

4. Mr. Ajith S Ranganathan and Mr. Rohit Rajershi, Advocates for R-1 & 2

O R D E R

07.02.2020─ The Adjudicating Authority (National Company Law

Tribunal), Hyderabad Bench, Hyderabad, by impugned order dated 17th

October, 2019 approved the 'Resolution Plan' submitted by 'Sri City

Private Limited' and 'KCR Enterprise LLP' (Jointly- a consortium).

2. The Appellant has preferred the Appeal after delay of 60 days

beyond 30 days in preferring the appeal.

3. The only ground taken by the Appellant is that it is a Government

of Maharashtra Undertaking.

Contd/-..........

-2-

4. Mr. Rohit Rajershi, learned counsel appearing on behalf of 1st and

2nd Respondents ('Successful Resolution Applicant') submitted that the

sister concern of the Appellant 'Maharashtra State Electricity

Transmission Company Limited' also moved an Application against the

same very impugned order dated 17th October, 2019 before this Appellate

Tribunal in Company Appeal (AT) (Insolvency) No. 1401 of 2019. The said

appeal was dismissed on merit by order dated 3rd February, 2020.

5. In view of the fact that this Appellate Tribunal has no power to

condone delay beyond 15 days after 30 days of the prescribed period for

preferring the appeal in terms of Section 61(2) of the 'I&B Code', the

Appeal is dismissed on the ground of delay.

6. Further, on merit the other Appeal having preferred by the sister

concern of the Appellant having been dismissed, we are not inclined to

grant any relief.

7. We have noticed that subsequently a direction has been issued by

the Adjudicating Authority by order dated 10th January, 2019 which was

also on the record, but the same is not under challenge.

8. Further, the claim has been rightly decided by the 'Committee of

Creditors', also cannot be looked into in view of the decision of the Hon'ble

Company Appeal (AT) (Insolvency) No. 235 of 2020 -3-

Supreme Court in "Committee of Creditors of Essar Steel India

Limited v. Satish Kumar Gupta & Ors.─ 2019 SCC OnLine SC 1478".

The Appeal is dismissed both on the ground of limitation and on

merit. No costs.

[Justice S.J. Mukhopadhaya] Chairperson

(Shreesha Merla) Member(Technical) Ar/Rr

Company Appeal (AT) (Insolvency) No. 235 of 2020