Supreme Court Dismisses UP Power Body's Claims in Essar Power MP Insolvency Case
Loading more articles...
SC Rejects UP Power Body's Claims in Essar Power MP Insolvency Dispute
N
News18•18-03-2026, 19:15
SC Rejects UP Power Body's Claims in Essar Power MP Insolvency Dispute
•Supreme Court rejected UP Jal Vidyut Nigam Limited's (UPJVNL) appeal against the insolvency resolution of Essar Power MP Limited (now Mahan Energen Limited).
•The bench upheld NCLT and NCLAT findings, stating no interference was warranted with the implemented resolution plan.
•UPJVNL had claimed over Rs 12 crore for pre-insolvency dues, classified as 'contingent claims' and admitted at Rs one by the Resolution Professional.
•The apex court noted that operational creditors received 'NIL payment' under the approved resolution plan, with Adani Power Limited as the successful bidder.
•The court emphasized that an implemented resolution plan binds all stakeholders, and reopening claims would disrupt the insolvency process.
