Southern Power Distribution Company of Telangana Limited (TSSPDCL) filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking permission to submit their claim as an Operational Creditor beyond the stipulated time in the liquidation process of Kamineni Steel & Power India Private Limited.
Corporate debtor applied for HT Connection which was sanctioned by the then Central Power Distribution Company of Andhra Pradesh (APCPDCL), which is now Southern Power Distribution Company of Telangana Limited (TSSPDCL).
An HT agreement was executed between the Corporate Debtor and APCPDCL on 03.02.2014.
The corporate debtor failed to make payments against invoices raised by the Applicant Company, resulting in an outstanding amount of Rs.9,12,01,131/- as of 29.10.2015.
The power supply was disconnected on 29.10.2015 due to non-payment.
The HT Agreement was terminated on 03.02.2016.
An amount of Rs. 18,97,58,944/- was due as on 01.04.2016, which was reduced to Rs.12,22,58,944/- after adjusting the security deposit.
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HT agreement executed…
Power supply disconnecte…
Southern Power Distribution Company of Telangana Limited (TSSPDCL) filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking permission to submit their claim as an Operational Creditor beyond the stipulated time in the liquidation process of Kamineni Steel & Power India Private Limited.
Corporate debtor applied for HT Connection which was sanctioned by the then Central Power Distribution Company of Andhra Pradesh (APCPDCL), which is now Southern Power Distribution Company of Telangana Limited (TSSPDCL).
An HT agreement was executed between the Corporate Debtor and APCPDCL on 03.02.2014.
The corporate debtor failed to make payments against invoices raised by the Applicant Company, resulting in an outstanding amount of Rs.9,12,01,131/- as of 29.10.2015.
The power supply was disconnected on 29.10.2015 due to non-payment.
The HT Agreement was terminated on 03.02.2016.
An amount of Rs. 18,97,58,944/- was due as on 01.04.2016, which was reduced to Rs.12,22,58,944/- after adjusting the security deposit.
…HT agreement executed…
Power supply disconnecte…