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The NCLAT on Tuesday dismissed a petition of the insolvency resolution professional (IRP) of debt-ridden Monnet Power Company against an NCLT order, which had directed the firm to reconsider the claims of its operational creditor, state-owned BHEL.
A two-member NCLAT Bench headed by Justice SJ Mukhopadhaya asked the IRP to act in accordance with the directions passed by the Mumbai Bench of the NCLT on October 12, 2018, directing it to re-examine the claims of BHEL.
The NCLT Mumbai had said the IRP of Monnet Power had “wrongly disallowed the substantial claim in its entirety” of BHEL, an operational creditor of the company.
In the ongoing corporate insolvency resolution process of Monnet Power, BHEL had filed an application before the IRP to admit the entire claim of ₹977.5 crore along with interest.
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