NCLAT: Company Appeal by Shareholder Not Maintainable, Dismissed

Park Energy Private Limited Vs State Bank of India (NCLAT Chennai) The National Company Law Appellate Tribunal (NCLAT) in Chennai has dismissed a company appeal filed by Park Energy Private Limited, a shareholder of the Corporate Debtor, Bhadreshwar Vidhyut Private Limited. The appeal challenged an order from the National Company Law Tribunal (NCLT) that admitted a Section 7 application under the Insolvency and Bankruptcy Code (IBC) filed by the financial creditor, State Bank of India, initiating Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The core issue was wh...