NCLAT Denies BHEL Stay on Resolution Plan

NCLAT Chennai denies BHEL's interim stay application on an approved resolution plan for Bhadreshwar Vidyut Pvt. Ltd.
BHEL's claim of Rs 62.03 crore from an arbitration award was classified as contingent in the approved resolution plan.
The tribunal declined to stay the plan, citing the time-bound nature of insolvency proceedings under the IBC.
BHEL's appeal seeking fresh resolution plans or claim reclassification is listed for admission hearing on 15.06.2026.