The Firm advised and represented the committee of creditors (“CoC”) of Vidarbha Industries Power Limited (“Corporate Debtor”) during the corporate insolvency resolution process (“CIRP”) of the Corporate Debtor under the provisions of the Insolvency and Bankruptcy Code, 2016, as amended (“Code”). The CoC comprised of CFM Asset Reconstruction Private Limited and Pallas Holdings Limited.
The CIRP was initiated against the Corporate Debtor vide order dated September 30, 2024, passed by the Hon’ble National Company Law Tribunal, Mumbai Bench (“NCLT”). After extensive negotiations, the resolution plan submitted by Adani Power Limited (“Resolution Applicant” and such plan is referred to as “Resolution Plan”) was…