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) again

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