# In the matter of Srinivasa Ferro Alloys Limited

> NCLT judgment dated 2025-09-25. Citation: TCN-2025-NCLT-01424. Damodar Valley Corporation (Operational Creditor) filed a petition under Section 9 of the IBC,…

- **Court:** NCLT
- **Order date:** 25 Sept 2025
- **Citation:** TCN-2025-NCLT-01424
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-amaravati/srinivasa-ferro-alloys-limited-afe7288b

## Summary

### Background

Damodar Valley Corporation (Operational Creditor) filed a petition under Section 9 of the IBC, 2016, to initiate CIRP against Srinivasa Ferro Alloys Limited (Corporate Debtor) due to unpaid operational debt related to electricity supply.

## Facts

The Operational Creditor (Damodar Valley Corporation) and the Corporate Debtor (Srinivasa Ferro Alloys Limited) entered into a Power Purchase Agreement (PPA) dated 12.03.1996.

The Operational Creditor supplied and delivered power to the Corporate Debtor's factory located at Angadpur Village, Durgapur, District Burdwan, West Bengal.

The Operational Creditor raised a final bill dated 01.01.2021 in respect of arrears for the period 2006-09, after adjustments, leaving an outstanding sum of Rs.8,15,08,151/-.

The Operational Creditor issued a demand notice dated 27.07.2023 under Section 8 of the Code after outstanding amounts remained unpaid.

The Corporate Debtor replied to the demand notice on 14.08.2023, raising untenable grounds.

…

## Issues and analysis

### Issue 1: Whether this Petition is filed …

**Ratio:** The petition was filed within three years of the bills for the claims at (i) to (iv) and

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**Reasoning:** The Adjudicating Authority considered the dates of default for each claim and the date of

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**Interpretation:** The petition was filed

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**Application:** The Adjudicating Authority concluded that the petition was filed within the

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## Parties

- **Judges:** UMESH KUMAR…; KISHORE VEMULAPALL…
- **Appellants:** Damodar Valley…
- **Respondents:** Srinivasa Ferro…
- **Other parties:** Amara…; Mr.Srinivas Gudla…
- **Advocates:** Srichar…

## Timeline

- **12.03.1996 — Power Purchase…**: Operational Creditor and Corporate Debtor…
- **01.01.2021 — Final Bill…**: Operational Creditor raised a…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 8 — Insolvency resolution by operational creditor](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-8)

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