NCLT Mumbai Allows Withdrawal Of Tata Power EV Charging Solutions' Insolvency Plea Against Cab-Eez Infra Tech

On February 2, 2026, a bench comprising Judicial Member Nilesh Sharma and Technical Member Charanjeet Singh Gulati permitted withdrawal of Tata Power's insolvency plea under Section 12A of the Insolvency and Bankruptcy Code after noting that the companies had entered into consent terms.

“No Objection Certificates obtained from nine Financial Creditors constituting 94.57% of the total Financial Creditors and three Operational Creditors as tabulated at “Exhibit Annexure-A Colly” has been placed on record. In view of such facts and submission of the Learned Counsel for the Applicant, this IA is allowed and the Company Petition 478/2025 is dismissed as withdrawn.”, the tribunal said.

The dispute concerned unpaid dues of about Rs 1.91 crore for EV charging infrastructure services provided by Tata Power EV Charging Solutions to Cab-Eez under a master service agreement executed in 2020. The services were initially provided by Tata Power Company and later taken over by Tata Power EV Charging Solutions, which began issuing invoices directly to Cab-EEZ from 2022.

Following continued non-payment, Tata Power issued demand notices and filed a petition under Section 9 of the IBC. The NCLT admitted the plea on October 15, 2025 and initiated the CIRP.

The debtor challenged the admission order before the National Company Law Appellate Tribunal. On November 14, 2025, the NCLAT recorded that the parties had reached a settlement and disposed of the appeal, observing that the NCLT could consider the withdrawal application.

When the matter returned to the NCLT, the tribunal noted that nine financial creditors representing 94.57 percent in value had given their consent and that the operational creditor had entered into consent terms with the corporate debtor.

It accordingly allowed the withdrawal application and dismissed the insolvency proceedings as withdrawn.

For Suspended Directors: Senior Advocate Gaurav Joshi with Advocates Abha Patel, Rubina Khan

For Respondent: Advocates Surjendu Sankar Das, Annie Mittal, Yoovika Toor