The case involves Liberty Steel SBQ Limited, the applicant, seeking restoration of electricity supply from Southern Power Distribution Company of Andhra Pradesh Limited and other respondents. Liberty Steel SBQ Limited acquired SBQ Steel Limited (the Corporate Debtor) through an e-auction during the Corporate Insolvency Resolution Process (CIRP). The applicant contends that as an auction purchaser, it is not liable for the pre- and post-CIRP dues of the Corporate Debtor, especially since the Corporate Debtor has been dissolved. The electricity connection to the Corporate Debtor was disconnected in January 2018 due to pending dues. The applicant argues that the respondents' claims should have been addressed during the liquidation process under the Insolvency and
…Liberty Steel SBQ Limited (the Applicant) acquired SBQ Steel Limited (the Corporate Debtor) through an e-auction during the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor was admitted into CIRP on 2017-12-29, and a liquidation order was issued on 2019-02-15. The Applicant was declared the successful bidder on 2020-08-08, and Liberty Steel SBQ Limited was incorporated on 2020-09-16 as a special purpose vehicle. The Adjudicating Authority approved the auction on 2020-12-07, and a sale certificate was issued on 2020-12-10. The Corporate Debtor was dissolved on 2022-02-11. The Southern Power Distribution Company of Andhra Pradesh Limited (1st Respondent) disconnected the electricity supply to the Corporate Debtor in January 2018 due to pending dues.
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Admission order admitting the Corporate…
Electricity connection…
The case involves Liberty Steel SBQ Limited, the applicant, seeking restoration of electricity supply from Southern Power Distribution Company of Andhra Pradesh Limited and other respondents. Liberty Steel SBQ Limited acquired SBQ Steel Limited (the Corporate Debtor) through an e-auction during the Corporate Insolvency Resolution Process (CIRP). The applicant contends that as an auction purchaser, it is not liable for the pre- and post-CIRP dues of the Corporate Debtor, especially since the Corporate Debtor has been dissolved. The electricity connection to the Corporate Debtor was disconnected in January 2018 due to pending dues. The applicant argues that the respondents' claims should have been addressed during the liquidation process under the Insolvency and
…Liberty Steel SBQ Limited (the Applicant) acquired SBQ Steel Limited (the Corporate Debtor) through an e-auction during the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor was admitted into CIRP on 2017-12-29, and a liquidation order was issued on 2019-02-15. The Applicant was declared the successful bidder on 2020-08-08, and Liberty Steel SBQ Limited was incorporated on 2020-09-16 as a special purpose vehicle. The Adjudicating Authority approved the auction on 2020-12-07, and a sale certificate was issued on 2020-12-10. The Corporate Debtor was dissolved on 2022-02-11. The Southern Power Distribution Company of Andhra Pradesh Limited (1st Respondent) disconnected the electricity supply to the Corporate Debtor in January 2018 due to pending dues.
…Admission order admitting the Corporate…
Electricity connection…