Authority: Supreme Court of India, Civil Appellate Jurisdiction
Order Date: 24 July 2026
Case Overview
- Parties: Surjyo Sujalchandra Bagchi (Petitioner), Bimal Kumar Agarwal & Anr. (Respondents), Adani Power Limited (Applicant).
- Court: Hon'ble Chief Justice Surya Kant, Hon'ble Justice Joymalya Bagchi, Hon'ble Justice V. Mohana.
- Proceedings: Miscellaneous Application No. 2078 of 2026 arising out of Civil Appeal No. 7974 of 2026, seeking clarification of the Supreme Court order dated 18‑05‑2026.
- Background: The earlier order interpreted paragraph 12 of the NCLT order dated 18‑06‑2025 approving the resolution plan for Vidarbha Industries Power Limited. It held that Rs 1 crore earmarked for operational creditors, with employees having first preferential claim, was payable in addition to amounts due for employees' provident fund (PF) and gratuity.
- Clarification Sought: Whether the amount of Rs 65,17,076 (comprising PF, gratuity and interest) should be distributed pro rata among all eligible operational creditors or exclusively among the eligible employees.
Final Outcome
- The Court clarified that the amount of Rs 65,17,076 shall be disbursed only among the eligible employees.
- It reaffirmed that the separate Rs 1 crore set aside for operational creditors remains payable in addition to the employee PF and gratuity amounts.
- IA No.181149/2026 and the Miscellaneous Application are hereby disposed of, with any pending applications to be dealt with as per the signed order.
- The order was digitally signed by Registrar‑cum‑PS Dy. Registrar Nitin Talreja on 29 July 2026 at 10:35:42 IST.
Topics: Insolvency, Employee Claims, Resolution Plan