NCLAT asks Monnet Power Resolution Professional to consider BHEL’s claims


NCLAT asks Monnet Power Resolution Professional to consider BHEL’s claims

The National Company Law Appellate Tribunal (NCLAT) on Tuesday asked the Resolution Professional (RP) of Monnet Power Company to consider the claims of Bharat Heavy Electricals Limited (BHEL) in entirety if the latter was able to prove the same on the basis of “accounts and evidence”.

The RP of Monnet Power had rejected BHEL’s claim of Rs 977 crore along with interest, following which BHEL had approached the Mumbai bench of National Company Law Tribunal (NCLT). The NCLT Mumbai on October 12 said that the RP had “wrongly disallowed the substantial claim in its entirety”.

It had then asked the RP to re-examine BHEL’s claim based on the accounts and evidence that the company presented. “If the evidence corroborated the claim, the same should also be taken into account while finalising the total claim of  BHEL,” NCLT Mumbai had said. Read More

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