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TMI Blog2020 (7) TMI 420X X X X Extracts X X X X X X X X Extracts X X X X ..... ompany. It is stated that it is statutory Authority under section 38 of the Electricity Act, designated as Nodal Agency for grant of Long Term Access as per Regulation 4 of the Central Electricity Regulation Commission Regulations, 2009. In view of Provisions of the Electricity Act, 2003 and the Regulations the Appellant had entered into "Bulk Power Transmission Agreement" (BPTA) for "Long Term Access" (LTA) DATED 24th February, 2010 with the Corporate Debtor, the Respondent No. 1 "Korba West Power Company Limited". The Appellant claims that the Corporate Debtor was liable as per said Agreement and Regulations to pay transmission charges and consequential amounts. The due debt for payments as per "LTA" was 1-10-2017. However, the Corporate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t in terms of Section 61 (2) of IBC the Appeal can be filed within 30 days of the Order however, as per Section 61 (2) this Tribunal may allow an Appeal to be filed after the expiry of said period of 30 days, if it is satisfied that there was sufficient cause for not filing the Appeal but said period shall not exceed 15 days. The Appeal Para 6 states that the knowledge of the Impugned Order was received by the Appellant only by virtue of the pending Proceedings in Petition No. 269/MP/2017 before the CERC. It is claimed that during the Pendency of the Proceedings, the Appellant was not in a position to quantify the Operational Debt on account of the Corporate Debtor and therefore only on termination of the said proceedings on 25. 09. 2019 th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... when considered, the delay would require to be condoned. The learned Counsel for the Respondent has referred to Annexure A-20 (Page 185) to submit that the Appellant had knowledge of the Resolution Plan passed at least on 4-7-2019 and thus according to him the Appeal is time barred keeping in view provisions of Section 61 of Insolvency and Bankruptcy Code, 2016. The counsel is relying on the Judgments of this Tribunal in the matters of "Amit Singhal Vs. Experion Developers Pvt. Ltd." in Company Appeal (AT) (Insolvency) No. 992 of 2019 and "National Spot Exchange Vs. Mr. Anil Kohli" in Company Appeal (AT) (Insolvency) No. 683 of 2019. Counsel for the Appellant is relying on Judgment in the matter of "Principal Director General of Inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... we find that the impugned scheme dated October 20.2016 is illegal but in absence of our jurisdiction to exercise of the powers under section 61 of the "I and B Code", being barred by limitation, it will not be desirable to set aside the impugned illegal scheme dated October 20, 2016. But we hold the same illegal. 68. Further, in the absence of any provision to get the scheme executed through any court of competent jurisdiction, the relevant provision(s) having been repeated, the appellant may raise the question, if the respondents move before any court of law for implementation the scheme. Both the appeals are disposed of with aforesaid observations as recorded above. However, in the facts and circumstances of the case, there shall be no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the pending proceeding Petition No. 269/MP/2017. The Learned Counsel for the Respondent has pointed out Annexure A-20 which is record of proceedings before the "CERC" dated 04-7-2019 where Learned Counsel of the Appellant made certain statements which have been noted as under: "2. Learned Counsel for PGCIL submitted that the Petitioner has filed the IA for amendment of Petition during the pendency of NCLT proceedings and vide order dated 24-6-2019, NCLT has approved the Resolution Plan for the Petitioner Company. Learned Counsel submitted that transmission system has been commissioned and NCLT process will not come in the way of operationalization of LTA. Learned Counsel submitted that the Petitioner is required to clarify as to whether ..... X X X X Extracts X X X X X X X X Extracts X X X X
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