The Supreme Court of India on Tuesday dismissed a civil appeal filed by UP Jal Vidyut Nigam Limited (UPJVNL), challenging the treatment of its claims in the insolvency resolution of Essar Power MP Limited (now Mahan Energen Limited), holding that no interference was warranted particularly after implementation of the resolution plan.
A division Bench of Justice Manoj Mishra and Justice Manmohan noted that operational creditors had not received any payment under the approved resolution plan and that even if the UPJVNL’s claim were fully admitted, the outcome would remain unchanged.
The dispute dates back to 2009, when EPMPL entered into an agreement with UPJVNL in relation to the supply of water from the Rihand Reservoir. EPMPL, a key…