S.No.1 IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH – 1 VC AND PHYSICAL (HYBRID) MODE ATTENDANCE CUM ORDER SHEET OF THE HEARING HELD ON

27-01-2026 AT 1:00 PM CP (IB) No. 249/7/HDB/2018 AND IA (IBC) 474/2025 in CP (IB) No. 249/7/HDB/2018 u/s. 7 of IBC, 2016 IN THE MATTER OF:

Power Finance Corporation Ltd …Financial Creditor AND Krishna Power Utilities Ltd …Corporate Debtor C O R A M:-

SH. RAJEEV BHARDWAJ, HON’BLE MEMBER (JUDICIAL)

SH. SANJAY PURI, HON’BLE MEMBER (TECHNICAL)

O R D E R IA (IBC) 474/2025 Present: Mr. Y. Suryanarayana, Ld. Counsel for the Applicant.

Orders pronounced, recorded vide separate sheets.

In the result, this application is allowed and disposed of.

-Sd/- -Sd/-

MEMBER (T) MEMBER (J)

Siva/Manohar NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH-1 I.A. (IBC) No.474/2025 IN C.P.(IB)No.249/7/HDB/2018 Under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 read with Rule-11 of the National Company Law Tribunal Rules, 2016 IN THE MATTER OF M/S POWER FINANCE CORPORATE LIMITED VS M/S KRISHNA GODAVARI POWER UTILITIES LIMITED BETWEEN M/s KRISHNA POWER UTILITIES LIMITED (Formerly known as M/s. Krishna Godavari Power Utilities Limited)

Regd. Office at 6-2-913/914, 3^rd Floor, Progressive Towers, Khairtabad, Hyderabad – 500 004.

Represented by Shri S. V. Subramanian, CFO …Applicant AND M/s ASSET RECONSTRUCTION COMPANY (INDIA) LIMITED, The Ruby, 10^th Floor, 29 Senapati Bapat Marg, Dadar (West), Mumbai – 400 028.

Represented by Mr. Jigar Dalal, Sr. Vice President …Respondent Date of order: 27.01.2026 CORAM SHRI RAJEEV BHARDWAJ, HON’BLE MEMBER JUDICIAL SHRI SANJAY PURI, HON’BLE MEMBER TECHNICAL Appearance:

For Applicant : Shri Y. Suryanarayana, Counsel PER: BENCH

O R D E R

1. This Application is filed by the Applicant under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 r/w Rule11 of the National Company Law Tribunal Rules, 2016 praying for the following relief:

“To direct the Respondent herein to execute the Release of the Memorandum of Title Deeds / Release Deed of Assignment Agreement with respect to the release of the title of the assets of the Applicant herein.”

2. The averments of the Applicant in brief are as follows:

2.1 It is averred that the Applicant M/s Krishna Power Utilities Limited (formerly known as M/s Krishna Godavari Power Utilities Limited) is a Public Limited Company incorporate under the provisions of Companies Act, 1956. The Applicant Company was under CIRP by virtue of the Order dated 04.12.2018 passed by this Hon’ble Adjudicating Authority. During the CIRP, a Resolution Plan was submitted by M/s Karthik Rukmini Energy Limited which was approved by the members of the COC and also by this Hon’ble Adjudicating Authority vide I.A.No.1172/2019, dated 27.02.2020. A copy of the order dated 27.02.2020 is annexed to the application as Annexure-3.

2.2 It is averred that upon approval of the Resolution Plan by this Hon’ble Adjudicating Authority, the Successful Resolution Applicant i.e. M/s Karthik Rukmini Energy Limited took over the management of the Applicant Company and the name of the Applicant Company was changed from “Krishna Godavari Power Utilities Limited” to “Krishna Power Utilities Limited”.

2.3 It is averred that the approved Resolution Plan clearly mentions and states that no liability of any dues whatsoever shall be entertained by the Resolution Applicant apart from the amount stated in the Resolution Plan and Financial Plan. Further, the Resolution Plan also states that all the previous agreements, contracts, guarantees executed by the Applicant herein shall stand cancelled. The relevant clauses of the Resolution Plan are reproduced hereunder:

3……….… “KREL cannot be held responsible for any of the defaults made of KGPUL with any Statutory Authorities etc. KREL is committed for revival of operations based on Resolution Plan submitted and not to settle the dues of earlier management to Statutory Authorities etc. and / or arising out of any corporate guarantee or any other guarantees provided