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NATIONAL COMPANY LAW TRIBUNAL
Sanjay Puri, T, Rajeev Bhardwaj, J
State Bank of India – Appellant
Versus
Meenakshi Energy Ltd – Respondent
| Table of Content |
|---|
| 1. execution of power purchase agreements. (Para 1 , 2 , 3 , 4) |
| 2. corporate debtor's obligations under ppas. (Para 5 , 6 , 7 , 8 , 9 , 10 , 11 , 12) |
| 3. termination of ptc-ppa and its consequences. (Para 13 , 14) |
| 4. claims by the resolution professional. (Para 15 , 16 , 17) |
| 5. retention of amounts by ptc. (Para 18 , 19 , 20 , 21 , 22) |
| 6. arguments regarding osd and psd. (Para 23 , 24) |
| 7. moratorium and its applicability. (Para 25) |
| 8. conditions for termination of psd. (Para 26 , 27 , 28 , 29) |
ORDER
ABBREVIATIONS
BPDB Bangladesh Power Development Board
BPDB-PPA BPDB – Power Purchase Agreement
CD Corporate Debtor
COC Committee of Creditors
OSD Operational Security Deposit
PPA Power Purchase Agreement
PSD Performance Security Deposit
PTC PTC India Limited
PTC-PPA PTC - Power Purchase Agreement
SEIL Sembcorp Energy India Limited
Note: Any reference in the foot-notes refers to the documents submitted with IA No. 1573 of 2022, unless specified otherwise
1. The sequence of events leading to the filing of the present applications began with the execution of a Power Purchase Agreement (PPA) Date of Order : 06.03.2025 between PTC, PTC India Ltd and BPDB, Bangladesh Power Development Board on 09.
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