BHEL challenges REC’s plea for HEL insolvency

State-run Bharat Heavy Electricals has challenged an insolvency petition filed against West Bengal-based coal power producer Hiranmaye Energy, as it will “stall” BHEL’s efforts to enforce a ₹388.4 crore arbitration award against the company.

BHEL has filed an application before the Kolkata bench of the National Company Law Tribunal (NCLT), seeking cancellation of the insolvency petition filed by REC.