INDIAN BANK Vs. ATHENA DEMWE POWER LIMITED

JUDGEMENT

(1.) This CP is filed for mooting the Corporate Insolvency Resolution Process (CIRP) under the provisions of Insolvency & Bankruptcy Code (IBC), 2016 in relation to the respondent company named as 'Corporate Debtor'. The Petition has been has been filed by a Financial Creditor namely Indian Bank through its authorized person being the Assistant General Manager, ARMB-Delhi, World Trade Centre, Babar Road, New Delhi vide Power of Attorney dated 30.6.2006 annexed as Annexure-A to the above Petition.

(2.) The following facts can be ascertained one perusal of the application and also on the representation of the Learned Counsel for the Petitioner namely:

(3.) However, the Corporate Debtor did not repay the short-term loan/bridge loan within the period of 6 months as undertaken by it, and instead, submitted a revised proposal vide Annexure A-22 of the Petition and the revised proposal was duly taken into consideration by the Financial Creditor and accordingly sanction, it is claimed by the Financial Creditor, was further revised as follows: <FRM>JUDGEMENT_397_LAWS(NCLT)5_2017_1.html</FRM>