9911796707
TMI Blog2019 (2) TMI 1874X X X X Extracts X X X X X X X X Extracts X X X X ..... at this Commission has jurisdiction to adjudicate the dispute under Section 79(1)(f) of the Act as its generating station which is situated in Odisha and is supplying power to the distribution companies of Uttar Pradesh - Since, we have decided that during the period of moratorium under Section 14 of the IBC, no proceeding can lie before this Commission, we are not expressing any view on the issue of the jurisdiction. Petition disposed off. - Petition No. 38/MP/2019 and I.A. No. 20/2019 - - - Dated:- 15-2-2019 - P.K. Pujari, Chairperson, Dr. M.K. Iyer and I.S. Jha, Members For Appellant: Gopal Jain, Senior Advocate, Shikha Pandey and Nishant Talwar, Advocates ORDER 1. The Petitioner, M/s. Lanco Babandh Power Limited, ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 012913, 4615ILG013013 and 2158IGPER00413 amounting to total ₹ 169.58 crore submitted by the Petitioner. 3. The Petitioner has also filed the I.A. No. 20 of 2019 in the present petition seeking the following reliefs: (a) Stay the operation of termination letter dated 16.1.2019 pending adjudication of the present petition; (b) Interim order restraining the Respondents, their servants and agents from taking any steps/further steps in furtherance of the Termination Letter dated 16.1.2019 in any manner whatsoever pending the adjudication of the present petition; and (c) Interim order restraining the Respondent Nos. 1 to 5, their servants and agents from invoking or encashing the Bank Guarantee No. 100616IGPER0031, 200/361/201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nior Counsel appearing for the Petitioner submitted that issue of the Termination Letter and raising a demand of ₹ 823.42 crore as damages against the Petitioner are in contravention of the moratorium under Section 14 of the IBC. Learned Senior Counsel further submitted that even though the matter is before the NCLT under the applicable provisions of IBC, this Commission is not denuded of its jurisdiction to entertain the Petition and grant interim protection to the Petitioner. 7. We have considered the submission of the Learned Senior Counsel for the Petitioner. Presently, the Petitioner is subject to the proceedings under the Insolvency and Bankruptcy Code, 2016. Pursuant to the order of the National Company Law Tribunal, Hyderab ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s as may be notified by the Central Government in consultation with any financial sector regulator. (4) The order of moratorium shall have effect from the date of such order till the completion of the corporate insolvency resolution process: Provided that where at any time during the corporate insolvency resolution process period, if the Adjudicating Authority approves the resolution plan under sub-section (1) of section 31 or passes an order for liquidation of corporate debtor under Section 33, the moratorium shall cease to have effect from the date of such approval or liquidation order, as the case may be. Hence, as per the Section 14 of the IBC, all proceedings before any Court or Tribunal, Arbitral Penal or any authority are p ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
