TaxTMI 
TaxTMI 
TaxTMI 
2026 (4) TMI 224
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....2026, is accompanied with a Condone Delay Application, being IA No. 415 / 2026 where the Appellant has sought a condonation of 14 days of delay that has chanced in preferring the Appeal. Besides that, certain defects have also been pointed out by the Registry on 10.03.2026. 2. Looking to the nature of controversy, in context of the defect pointed out by the Registry, the defects as reported on 10.03.2026, are being overruled. 3. As the Counsels for the parties are in agreement for a final disposal of the instant Company Appeal, we proceed to hear the Ld. Counsels for the parties on the Condone Delay Application. 4. The impugned order was rendered on 06.01.2026. The Certified copy of the Order was applied for by the Appellant on 19.....
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....ubject to the condition of depositing Rs.1,00,00,000/- with the Resolution Professional of the Corporate Debtor, which was to be deposited into the Accounts of the Corporate Debtor, within 10 working days from the date of the order. The Resolution Professional was directed to keep this amount in a separate account till the disposal of MA / 04 (CHE) / 2021. 8. The relevant extract of the order dated 26.02.2021 is extracted hereunder: "This MA/4/2021 mentioned today by the Learned Sr. Counsel Mr. P.S. Raman for the Applicant is taken up for hearing. This application is filed seeking interim relief from disconnecting the power supply to the Applicant. The Corporate Debtor is under CIRP and Ms. Renukadevi Rangasamy is the R....
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....he Applicant's WTGs to the pooling sub-station and the grid forming a part of Applicant's project comprising 17 WTGs bearing capacity of 25.5 MW situated at Budh Maharashtra, that the RP may be restrained from restricting the Appellant from availing the services of Pooling Stations without any hindrances, and that the Appellant may be granted leave to invoke Arbitration against the Corporate Debtor as per Section 60(6) of I & B Code, 2016, once the moratorium is lifted. 10. Ld. Tribunal in its Order dated 10.06.2025 observed that the parties had entered into a Settlement Agreement dated 25.08.2018 to end their dispute in respect of O & M Contracts entered between them and had subsequently, made a joint application before the Sole Arbitra....
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....la Agreement. 11. Accordingly, the Ld. Tribunal proceeded to pass the final order, on MA / 04 (CHE) / 2021, directing the parties to invoke Clause 2.3 of the Umbrella Agreement and to proceed with the Arbitration for purposes of resolution of their contractual dispute. 12. Admittedly, the order dated 26.02.2021 which was an interim order passed on MA / 04 (CHE) / 2021 and the order dated 10.06.2025 being the final order on MA / 04 (CHE) / 2021, have attained finality, as that has not been challenged by any of the parties. 13. Subsequent to this, M/s. Green Infra BTV Limited, the present Appellant filed the Application IA(IBC)/1558(CHE)/2025 in the same Company Petition CP(IB)/1424(CHE)/2019 wherein they prayed for that the amount o....
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....ich, the Ld. Tribunal passed the order directing the Respondent to keep the amount as it is till the matter is adjudicated by the Arbitrator. 16. After arguing the matter at length, Ld. Counsels for the parties came to a unanimity that the amount thus deposited by the Appellant in compliance of the order dated 26.02.2021, was only by way of a security to be extended for the purposes of considering the relief, which was sought by the Appellant in MA/04(CHE)/2021 and the same should have been returned after MA/04(CHE)/2021 was decided finally by an order of 10.06.2025, and that the directions to retain the same till the conclusion of the Arbitration proceedings, would be bad because it went beyond the jurisdiction of the Ld. Adjudicating A....