# In the matter of Kamineni Steel and Power India Private Limited IA (IBC) 859/2023 & IA No. 241-2020 in CP (IB) No.11-10-HDB-2017

> NCLT judgment dated 2023-06-09. Citation: TCN-2023-NCLT-05461. Southern Power Distribution Company of Telangana Limited (TSSPDCL) filed an application under…

- **Court:** NCLT
- **Order date:** 9 Jun 2023
- **Citation:** TCN-2023-NCLT-05461
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-hyderabad/kamineni-steel-and-power-india-private-limited-ia-ibc-8592023-ia-no-241-2020-in-945f1db5

## Summary

### Background

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.

## Facts

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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## Issues and analysis

### Issue 1: Whether the delay in submitting the claim by the Operational Creditor (TSSPDCL) during the …

**Ratio:** The Tribunal considered the ongoing liquidation process and the fact that the assets of

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**Reasoning:** The applicant argued that the delay was due to inadvertence and relied on a Supreme Court

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**Interpretation:** The Tribunal interpreted the circumstances to allow for the examination of the

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**Application:** The Tribunal directed the liquidator to

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## Parties

- **Judges:** Venkata Ramakrishn…; SH. CHARAN…
- **Appellants:** Southern Power…; Southern Power…; +1 more
- **Respondents:** Kamineni Steel &…
- **Other parties:** Racharla Ramakrish…
- **Advocates:** Hari…; Raja Shekar Ro…

## Timeline

- **2014-02-03 — HT Agree…**: HT agreement executed between…
- **2015-10-29 — Power Discon…**: Power supply disconnecte…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 60(5) — Adjudicating Authority for corporate persons](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-60)

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