C.P. No. (IB) 1234 OF 2022

Application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016

And Rule 11 of NCLT Rules, 2016

Filed by

CFM Asset Reconstruction

Private Limited

…Applicant

In the matter of:

State Bank of India

…Petitioner/Financial

Creditor

vs.

Vidarbha Industries Power Limited

…Corporate Debtor

Order Dated: 07.03.2024

Coram:

Hon’ble Ms. Reeta Kohli, Member (Judicial)

Hon’ble Ms. Madhu Sinha, Member (Technical)

Appearance (Physical):

For the Applicant: Adv. Bhavika Deora (PH)

For the Respondent: Sr. Counsel Prateek Seksaria a/w Raghavi

Sharma (VC)

C.P. No. (IB) 1234 OF 2022

ORDER

Per: Reeta Kohli, Member (Judicial)

1. The above application I.A. No. 4428 OF 2023 is filed by CFM Asset Reconstruction Private Limited (hereinafter referred to as the “Applicant”) seeking direction against Vidarbha Industries Power Limited (hereinafter referred to as the “Respondent”) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 And Rule 11 of NCLT Rules, 2016 (hereinafter called as “the Code”), praying for following reliefs:

a. To allow the present Application and consequently permit the substitution of State Bank of India as the Financial Creditor in the captioned Company Petition, wit