The appeal was filed against an impugned order dated 07.05.2021, concerning an application I.A. No. 316/KB/2021 in CP(IB) No. 391/KB/2018. The application was filed by the Respondent, the purchaser of the Corporate Debtor's properties, which were sold by the liquidator through a public auction held on 24.01.2020. The applicant sought directions against the Appellant to grant an electricity connection to the factory premises purchased under the auction. The NCLAT is addressing the question of whether the Damodar Valley Corporation (DVC) is entitled to charge the third-party purchaser for the defaults committed by the previous consumer, under WBERC Regulations, and the maintainability of the application, as well as whether the liability of the previous consumer will
…Damodar Valley Corporation (DVC) sought to charge Shriramrathi Steels Pvt. Ltd. (the third-party purchaser) for the defaults of the previous consumer, under WBERC Regulations. Shriramrathi Steels Pvt. Ltd. purchased the properties of a Corporate Debtor through a public auction conducted by the liquidator on 24.01.2020. Shriramrathi Steels Pvt. Ltd. then filed an application seeking directions against DVC to grant an electricity connection to the factory premises. The NCLT passed an impugned order, which was then appealed. During the pendency of the appeal, an interim arrangement was made where a new connection was installed after a deposit of Rs. 2,28,66,131/-. The application I.A. No. 316 is still pending before the NCLT. DVC raised questions about the maintainability
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The appeal was filed against an impugned order dated 07.05.2021, concerning an application I.A. No. 316/KB/2021 in CP(IB) No. 391/KB/2018. The application was filed by the Respondent, the purchaser of the Corporate Debtor's properties, which were sold by the liquidator through a public auction held on 24.01.2020. The applicant sought directions against the Appellant to grant an electricity connection to the factory premises purchased under the auction. The NCLAT is addressing the question of whether the Damodar Valley Corporation (DVC) is entitled to charge the third-party purchaser for the defaults committed by the previous consumer, under WBERC Regulations, and the maintainability of the application, as well as whether the liability of the previous consumer will
…Damodar Valley Corporation (DVC) sought to charge Shriramrathi Steels Pvt. Ltd. (the third-party purchaser) for the defaults of the previous consumer, under WBERC Regulations. Shriramrathi Steels Pvt. Ltd. purchased the properties of a Corporate Debtor through a public auction conducted by the liquidator on 24.01.2020. Shriramrathi Steels Pvt. Ltd. then filed an application seeking directions against DVC to grant an electricity connection to the factory premises. The NCLT passed an impugned order, which was then appealed. During the pendency of the appeal, an interim arrangement was made where a new connection was installed after a deposit of Rs. 2,28,66,131/-. The application I.A. No. 316 is still pending before the NCLT. DVC raised questions about the maintainability
…Properties of Corporate…
Date of the impugned…
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