LAWS(NCLT)-2018-1-80

ANDHRA PRADESH POWER GENERAL CORPORATION LTD (AP GENCO) Vs. NORTHERN POWER DISTRIBUTION COMPANY OF TELANGANA LTD

Decided On January 04, 2018
ANDHRA PRADESH POWER GENERAL CORPORATION LTD (AP GENCO) Appellant
V/S
NORTHERN POWER DISTRIBUTION COMPANY OF TELANGANA LTD Respondents

JUDGEMENT

(1.) The Company Application bearing CP (IB) No. No. 14/9/HDB/2018 is filed by Andhra Pradesh Power Generation Corporation Limited (APGENCO) U/s. 9 of the IBC 2016 R/w Rule 6 of the IBC (AAA) Rules, 2016, by inter-alia seeking to initiate a Corporate Insolvency Resolution Process (CIRP) in respect of TSNPDCL.

(2.) Heard Mr. Vimal Vasi Reddy, learned counsel for the petitioner and Mr. V. Harish Kumar, learned counsel for the Respondent.

(3.) The learned counsel for the Petitioner submitted that the Registry has raised certain objections which could not be complied with so far. Instead of complying with the objections, consequently amending petition, which is time consuming process, the learned counsel wanted to withdraw the present company petition, with a liberty to file a fresh petition. He has also filed a Memo dated 01.01.2018 to that extent.