Dhir & Dhir Associates recently appeared on behalf of IREDA before NCLT, Hyderabad opposing the Resolution Plan as approved by the Committee of Creditors in the matter of VBC Industries Ltd. IREDA in the said matter has a Corporate Guarantee from VBC Industries against the loan disbursed to its subsidiary i.e. Orissa Power Consortium Ltd. (OPCL). In the absence of existence of default by OPCL, the claim of IREDA was not accepted by the RP. The NCLT, Hyderabad, while hearing the matter through video conferencing issued notice on the Application as preferred by IREDA and has held that approval of Resolution Plan shall be on hold till the decision on the application by IREDA.