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BELA M. TRIVEDI, SATISH CHANDRA SHARMA
Kalyani Transco – Appellant
Versus
Bhushan Power And Steel Ltd. – Respondent
| Table of Content |
|---|
| 1. summary of appeals filed against nclt's judgment. (Para 1 , 2 , 3) |
| 2. details of the resolution process and parties involved. (Para 4 , 5 , 6 , 7) |
| 3. arguments presented by various stakeholders regarding the ibc. (Para 8 , 9 , 10 , 11 , 12 , 14 , 15 , 20) |
| 4. judicial scrutiny must ensure compliance with mandatory provisions of the ibc. (Para 13) |
| 5. observations on compliance and judicial scrutiny in resolution plans. (Para 32 , 33 , 39 , 47) |
| 6. the court determines that failure to comply with ibc provisions warrants rejection of the plan. (Para 81 , 82 , 83) |
| 7. conclusion and orders regarding the resolution plan. (Para 85 , 86 , 87) |
JUDGMENT :
1. This batch of Appeals stems from the common impugned Judgment and Order dated 17.02.2020 passed by the National Company Law Appellate Tribunal (For short NCLAT), New Delhi in the Company Appeals filed by the various parties.
(i) Civil Appeal No. 1808 of 2020 has been filed by the Kalyani Transco, an operational creditor of the Corporate Debtor (For short CD) M/s. Bhushan Power and Steel Limited (For short BPSL) challenging the impugned Judgment and Order dated 17.02.2020 passed by the NCLAT in Company Appeal (AT) (Insolvency) No.
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