NATIONAL COMPANY LAW APPELLATE TRIBUNAL
Hon'ble Justice Rakesh Kumar Jain (Member(Judicial)) , Hon'ble Mr. Barun Mitra (Member (Technical)) , Hon'ble Mr. Naresh Salecha (Member (Technical)) ,
Committee of Creditors of Shree Maheshwar Hydel Power Corporation Ltd. Through Power Finance Corporation Limited – Appellant
Versus
Entegra Limited – Respondent
ORDER
Per: Justice Rakesh Kumar Jain (Oral) 17.07.2023: This appeal is directed against the order dated 17th March, 2023 passed by the ‘National Company Law Tribunal, Indore Bench’ (hereinafter referred as to ‘the Adjudicating Authority’) by which an application bearing IA No. 9 of 2023 filed in TP No. 258 of 2019 CP(IB) No. 111 of 2018 titled as ‘Entegra Limited vs. Shree Maheshwar Hydel Power Corporation Limited and Ors’ under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred as to ‘The Code’) r/w rule 11 of NCLT Rules, 2016 through the authorised representative of the Applicant Company, to remove Respondent No.2- Apoorv Sarvaria as Resolution Professional (RP) of the Corporate Debtor and to reconstitute the Committee of Creditors (CoC) of Respondent No.1 Company by including the claim of the Applicant and by removal of Respondent Nos. 4 to 7 from the CoC, has been kept for hearing on the issue to decide as to whether provisions of first proviso to Section 21(2) of the Code would apply or second proviso to Section 21(2) of the Code would apply to the case in hand and, thereafter, directed the RP to keep on hold the CIRP of the Corporate
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