Indian Renewable Energy Development Agency Ltd vs Saradambika Power Plant Pvt Ltd

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2026 Supreme(Online)(NCLT) 1024

NATIONAL COMPANY LAW TRIBUNAL
Umesh Kumar Shukla, Technical Member, Kishore Vemulapalli, Judicial Member
Indian Renewable Energy Development Agency Ltd – Appellant
Versus
Saradambika Power Plant Pvt Ltd – Respondent

Advocates:
For the Appellants/Petitioners: Mr. Charudutt Marathe, Mr. Amir Bavani, Mr. Nikhil Pathak
For the Respondents: Mr. M. M. Viswaraj, Ms. G. Sumathi

ORDER

PER: BENCH

The Interlocutory Application bearing no. IA(IBC)/401/2022 (hereinafter referred to as the “IA 401/2022” or “IA”) was originally e-filed on 27.12.2022 and physically filed on 23.12.2022 vide Diary No. 1488 by Shri Charudutt Marathe, Resolution Professional (hereinafter referred to as the “Applicant” or“ RP ” or the “erstwhile RP”) of the M/s. Saradambika Power Plant Private Limited (hereinafter referred to as the“ Corporate Debtor ”) under Sections 66 and 25(2)(j) of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the“IBC” or“Code”) read with Rules 11 and 13 of the National Company Law Tribunal Rules, 2016 (hereinafter referred to as the“ NCLT Rules”) seeking the following reliefs against the Respondents:

2. Subsequently, this Adjudicating Authority vide Order dated 03.02.2023 in IA (IBC)/340/2022 initiated the liquidation of the Corporate Debtor and appointed Mr. Charudutt Pandhrinath Marathe as the Liquidator (hereinafter referred to as the “Liquidator”) to conduct the liquidation proceedings.

3. During the course of hearing dated 23.07.2024, at the request of the Liquidator, time was granted for filing the amendment of the cause title of the A