9911796707
TMI Blog2022 (12) TMI 273X X X X Extracts X X X X X X X X Extracts X X X X ..... ich required the Petitioner to commission the plant. This Court is not inclined to go into the merits of the petition as to whether there is any justifiable cause for non-commissioning of the plant and as to what would be the effect of the said non-commissioning. The SECL has already issued the show cause notices to the Petitioner. The replies are stated to have been filed. Let a hearing be granted to the Petitioner and an order be passed by the SECL in accordance with law. The Petitioner shall be given two weeks time to avail of its remedies in accordance with law before the NCLT which would be the appropriate forum in terms of Section 60(5) of the IBC. Section 60(5) vests jurisdiction in NCLT to entertain or dispose of an applicati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ank Guarantees. As per the CSA, the Petitioner was to establish a power plant in Chhattisgarh. As a condition precedent, the Petitioner was also required to enter into long term Power Purchase Agreements (hereinafter PPAs ) with distribution companies. The CSA also stipulated a period of 24 months within which the condition precedent had to be satisfied. Admittedly, till date, the plant has not been commissioned and as per the Petitioner about 70% of the plant has been constructed and set up. 4. In March 2019, a decision was taken by the Ministry of Power in respect of Stressed Thermal Power Projects that in respect of projects where there was delay in commissioning which were not attributable to the generator, the said PPAs would not b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . 5. It is the case of the Petitioner that vide communication dated 22nd May, 2017, an extension was given by the Ministry of Coal for incomplete power projects till 31st March, 2022 to complete and commission the same failing which the Letter of Assurance would stand cancelled. In view of the fact that the said deadline has passed and the power plant has not been commissioned, the impugned show cause notices dated 22nd November, 2022 have been issued by SECL calling upon the Petitioner to respond to why the CSA ought not to be cancelled and Security Deposit be forfeited. The show cause notices gave 7 days time to the Petitioner to respond. 6. The submission of Mr. Nayar, ld. Senior Counsel appearing for the Petitioner is that on 5th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e ld. Senior Counsel only the Resolution Professional was entitled to file the writ petition and it is irregular for the Resolution Professional to authorize any person from the earlier management to file the present writ petition. His second submission is that the present writ is not maintainable in view of Section 14 read with Section 60(5) of the IBC. Mr. Das, ld. Sr. Counsel submits that the NCLT would have the jurisdiction to even hear non-parties and members who are not even part of the CoC in such proceedings, if filed, before the NCLT. 9. The Court has heard ld. Counsels for the parties and has perused the record. The prayers in the writ petition are as under: A. Issue of a writ of Certiorari or such other appropriate Writ q ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... going insolvency proceedings. It is also admitted that the project is yet to be commissioned. Under these circumstances, prima facie, there appears to be no extension beyond the date of 31st March, 2022, which has been given to the Petitioner. Moreover, a perusal of the show cause notices also shows that the Respondents have called upon the Petitioner to file a reply and to deal with the breach of various conditions in the CSA which required the Petitioner to commission the plant. 12. On a query from the Court, ld. Senior Counsel for the Petitioner submits that the reply to the show cause notice has already been filed. In this view of the matter, this Court is not inclined to go into the merits of the petition as to whether there is any ..... X X X X Extracts X X X X X X X X Extracts X X X X
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