# Canara Bank vs. Ramanathan Bhuvaneshwari Liquidator of Ms ARS Energy Limited

> NCLT judgment dated 2026-08-14. Citation: TCN-2026-NCLT-00957. The case involves the liquidation of ARS Energy Pvt Ltd. An earlier order dated 08.06.2026 by…

- **Court:** NCLT
- **Order date:** 14 Aug 2026
- **Citation:** TCN-2026-NCLT-00957
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chennai/canara-bank-vs-ramanathan-bhuvaneshwari-liquidator-of-ms-ars-energy-limited-dg66b

## Summary

### Background

The case involves the liquidation of ARS Energy Pvt Ltd. An earlier order dated 08.06.2026 by the Tribunal had directed TANGEDCO to restore electricity supply to the Corporate Debtor and the Liquidator to make priority payments to TANGEDCO from the liquidation estate proceeds. The Committee of Creditors (CoC) had also held a meeting to discuss the replacement of the Liquidator.

## Facts

An order dated 08.06.2026 directed TANGEDCO to restore electricity supply to ARS Energy Pvt Ltd.

The Liquidator was directed to make payments to TANGEDCO on priority from the proceeds of the liquidation estate of the Corporate Debtor.

TANGEDCO has not complied with the directions issued by the Tribunal.

The Committee of Creditors (CoC) held a meeting on 18.06.2026.

The CoC, with 96.77% voting, resolved to replace the Liquidator.

The CoC recommended Mr. Kalvakolanu Murali Krishna Prasad as the new Liquidator.

Ld. Counsel for the CoC submitted that the fee and expenses of the erstwhile Liquidator have been paid, with an undertaking to pay any remaining dues.

## Issues and analysis

### Issue 1: Whether TANGEDCO has complied with the Tribunal's directions regarding electricity supply and …

**Ratio:** The National Company Law Tribunal (NCLT) has the inherent power to ensure compliance with

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**Reasoning:** Ld. Counsel for the Applicant/Liquidator submitted that TANGEDCO has not complied with

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**Interpretation:** Non-compliance with a Tribunal's order is a serious matter that warrants

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**Application:** The Tribunal issued a notice to the Chief Engineer, TANGEDCO, directing them to

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## Parties

- **Judges:** SANJIV…; Venkataraman…
- **Appellants:** Canara…
- **Respondents:** ARS Energy…; RamanathanBhuvanes…; +1 more
- **Other parties:** Committee of…; Kalvakolanu…
- **Advocates:** Shri. Srin…; Dhanala…; +1 more

## Timeline

- **2026-06-08 — Previous Tribu…**: Tribunal issued an order directing TANGEDCO to restore electricity supply and the…
- **2026-06-18 — CoC Meeting and…**: Committee of Creditors (CoC) held a meeting and resolved with 96.77% voting to replace…

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