# In the matter of Punjab State Power Corporation Limited vs. Akums Lifesciences Limited

> NCLAT judgment dated 2025-02-25. Citation: TCN-2025-NCLAT-00196. Punjab State Power Corporation Limited (PSPCL) filed an appeal against the order of the…

- **Court:** NCLAT
- **Order date:** 25 Feb 2025
- **Citation:** TCN-2025-NCLAT-00196
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclat-new-delhi/punjab-state-power-corporation-limited-vs-akums-lifesciences-limited-2ff91203

## Summary

### Background

Punjab State Power Corporation Limited (PSPCL) filed an appeal against the order of the National Company Law Tribunal (NCLT), Chandigarh, which nullified outstanding electricity dues payable by Akums Lifesciences Limited (formerly Parabolic Drugs Limited) for the period prior to the initiation of the Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated against Akums Lifesciences Limited on 23.08.2018, and the resolution plan was approved on 12.01.2021. After the approval, the Successful Resolution Applicant (SRA) approached PSPCL to restore the electricity connection, but PSPCL claimed outstanding dues of Rs. 3,87,96,889. The NCLT held that the resolution plan had already been approved and pre-CIRP dues were settled, as Akums Lifesciences Limited had

…

## Facts

1. A CIRP was initiated against Akums Lifesciences Limited on 23.08.2018.
2. A resolution plan was approved on 12.01.2021.
3. Punjab State Power Corporation Limited (PSPCL) claimed outstanding electricity dues of Rs. 3,87,96,889 from Akums Lifesciences Limited.
4. These dues pertained to the period before the CIRP.
5. PSPCL did not file its claim before the Resolution Professional during the CIRP.
6. The approved resolution plan did not include any provision for payment of these outstanding electricity dues.
7. The Successful Resolution Applicant (SRA) paid Rs. 3.88 crores to PSPCL on 19.03.2023 under protest to restore electricity.
8. The NCLT nullified the outstanding dues of the Corporate Debtor for the period prior to CIRP.
9. PSPCL filed an appeal against the NCLT order,

…

## Issues and analysis

### Issue 1: Whether the NCLT has jurisdiction to decide the …

**Ratio:** Section 60(5)(c) of the IBC empowers the NCLT to adjudicate any question of priorities or

…

**Reasoning:** The NCLAT relied on the Hon'ble Supreme Court's judgment in Gujarat Urja Vikas Nigam

…

**Interpretation:** Section 60(5)(c) of the IBC grants broad jurisdiction to the NCLT to address

…

**Application:** In this case, the dispute regarding the payment of pre-CIRP electricity dues by

…

## Parties

- **Judges:** Yogesh K…; Ajai Das Me…
- **Appellants:** Punjab State…
- **Respondents:** Akums Lifesciences…
- **Advocates:** Shivani…; Dilip Kumar…; +2 more

## Timeline

- **2018-08-23 — CIRP Init…**: CIRP was initiated against…
- **2021-01-12 — Resolution Plan…**: Resolution plan was…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/nclat-new-delhi/punjab-state-power-corporation-limited-vs-akums-lifesciences-limited-2ff91203