Tuticorin Coal Terminal: Jindal Power moves NCLAT to be considered
Jindal Power Ltd Thursday filed an appeal before the National Company Law Appellate Tribunal seeking to be considered as an applicant for the acquisition of insolvent Tuticorin Coal Terminal Pvt Ltd.
Challenging an order of the National Company Law Tribunal's Mumbai bench, which had held the company ineligible for participation in the resolution process, Jindal Power argued that another company, Seapol, was allowed to file a resolution plan despite its name not appearing in the final list of prospective resolution applicant prepared by the committee of creditors. Jindal Power requested that the same rights be extended to the company that were given to Seapol, as the final list was prepared three years ago.
The NCLAT asked the resolution professional of Tuticorin Coal Terminal to file an affidavit putting the facts of the case on record and listed the matter for October 5.
