About the Corporate Debtor
Shirpur Power Private Limited (in Liquidation) incorporated on August 22, 2005 is registered at Registrar of Companies, Ahemdabad. SPPL is a green field thermal power plant of 300 MW (2 X 150 MW) capacity of thermal power at Nardana, District Dhule, State Maharashtra based on the blended coal from India and Indonesia. The Company is a 100% subsidiary of Zep Infratech Ltd. (formerly known as Zeppelin Mobile Systems India Ltd.).
The Financial Creditors application to initiate the corporate insolvency resolution process (“CIRP”) initiated under Section 7 of the Insolvency and Bankruptcy Code, 2016 read with Rules and Regulations made thereunder (“Code”) was admitted by the National Company Law Tribunal, Ahmedabad Bench (“NCLT”) vide its order dated [March 4th, 2020] and Mr. Savan Godiawala having IBBI Registration number IBBI/IPA-001/IP-P00239/2017-18/10468 was appointed. However, within the permitted CIRP timeline, no resolution plan was received by the Committee of Creditors. Thus, the Resolution Professional on behalf of the Committee of Creditors before the NCLT in terms of Section 33 of the Code. The NCLT admitted the application, initiating the liquidation process of the Corporate Debtor and appointed Mr. Dushyant Dave, as the Liquidator vide its order dated March 10, 2021 (“Order”) which was made available to the Liquidator on March 11, 2021 post business hours. Accordingly, the Liquidator issued a public announcement on March 13, 2021 in Financial Express (English & Gujarati edition) and Navshakti inviting claims from the stakeholders/persons to whom the Corporate Debtor owed dues.