This case involves an application filed by SBEG Consultants Private Limited, the purchaser of the corporate debtor's properties through a public auction held on January 24, 2020. SBEG sought directions from the National Company Law Tribunal (NCLT), Kolkata Bench, to compel Damodar Valley Corporation (DVC) to grant an electricity connection to the factory premises they purchased. The corporate debtor, Shriramrathi Steels Private Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) on August 2, 2018, and subsequently, a liquidation order was passed on June 10, 2019, appointing a liquidator. SBEG was declared the successful bidder in the e-auction, but DVC refused to grant an electricity connection, demanding payment of outstanding dues of
…Shriramrathi Steels Private Limited was admitted into Corporate Insolvency Resolution Process (CIRP) on August 2, 2018, and subsequently, a liquidation order was passed on June 10, 2019. During the liquidation process, the liquidator put the assets of Shriramrathi Steels up for auction. SBEG Consultants Private Limited participated in the e-auction and was declared the successful bidder on January 24, 2020, for a bid of ₹15.30 crore. A Slump Sale Agreement was executed on June 11, 2020. SBEG paid the entire sale consideration by March 24, 2020, but the liquidator did not issue a sale certificate. SBEG applied to Damodar Valley Corporation (DVC) on October 1, 2020, for an electricity connection to the factory premises purchased in the auction. DVC responded on December
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Shriramrathi Steels Private Limited was…
An order of liquidation…
This case involves an application filed by SBEG Consultants Private Limited, the purchaser of the corporate debtor's properties through a public auction held on January 24, 2020. SBEG sought directions from the National Company Law Tribunal (NCLT), Kolkata Bench, to compel Damodar Valley Corporation (DVC) to grant an electricity connection to the factory premises they purchased. The corporate debtor, Shriramrathi Steels Private Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) on August 2, 2018, and subsequently, a liquidation order was passed on June 10, 2019, appointing a liquidator. SBEG was declared the successful bidder in the e-auction, but DVC refused to grant an electricity connection, demanding payment of outstanding dues of
…Shriramrathi Steels Private Limited was admitted into Corporate Insolvency Resolution Process (CIRP) on August 2, 2018, and subsequently, a liquidation order was passed on June 10, 2019. During the liquidation process, the liquidator put the assets of Shriramrathi Steels up for auction. SBEG Consultants Private Limited participated in the e-auction and was declared the successful bidder on January 24, 2020, for a bid of ₹15.30 crore. A Slump Sale Agreement was executed on June 11, 2020. SBEG paid the entire sale consideration by March 24, 2020, but the liquidator did not issue a sale certificate. SBEG applied to Damodar Valley Corporation (DVC) on October 1, 2020, for an electricity connection to the factory premises purchased in the auction. DVC responded on December
…Shriramrathi Steels Private Limited was…
An order of liquidation…