JUDGEMENT

ASHOK BHUSHAN, J. This Appeal has been filed by the Appellant challenging the order dated 26.05.2023 passed by NCLT, New Delhi Special bench (Court-II) in CA No.237/ND/2018, by which order, CA filed by the Appellant challenging the decision of Resolution Professional (“RP”) and Committee of Creditors (“CoC”) to declare the Appellant as disqualified under Section 29A, has been rejected. The Appellant aggrieved by the order has come up in this Appeal.

2. Brief facts necessary to be noticed for deciding this Appeal are:

(i) Athena Demwe Power Limited, the Corporate Debtor was a company, incorporated for execution of demwe hydro electric project. The Corporate Debtor was incorporated as SPV on 09.07.2007. The Appellant has entered into a Memorandum of Understanding (“MoU”) dated 15.03.2013 with Corporate Debtor and AIPPPL (Athena Infraprojects Private Limited), under which the Appellant undertook to infuse equity capital of 30% into the Corporate Debtor. The Appellant through its 100% subsidiary Regina Infrastructure Pvt. Ltd. (“RIPL”) invested an amount of Rs.235.35 Crores through its 100% subsidiary, i.e. RIPL, which held 21.55% equity in the Corporat