The case involves an application filed by Damodar Valley Corporation (DVC), the Operational Creditor (OC), against Jai Venketesh Concast Private Limited, the Corporate Debtor (CD), under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiation of Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt.
A power purchase agreement was executed between Damodar Valley Corporation (DVC) and Jai Venketesh Concast Private Limited on May 20, 2012, and November 18, 2021, for the supply of electrical power.
The West Bengal Electricity Regulatory Commission (WBERC) determined the final tariff for the period 2017-2018 and 2018-2020 through orders dated May 05, 2022, and June 17, 2022.
DVC raised final/differential bills dated June 02, 2022, for Rs. 4,42,98,859/- and July 01, 2022, for Rs. 1,59,46,251/- due to the enhancement of tariff.
The electricity supply to the Corporate Debtor was disconnected on August 20, 2022, due to non-payment of the security deposit.
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Execution of power purchase agreement between…
Execution of power purchase agreement between…
The case involves an application filed by Damodar Valley Corporation (DVC), the Operational Creditor (OC), against Jai Venketesh Concast Private Limited, the Corporate Debtor (CD), under Section 9 of the Insolvency and Bankruptcy Code, 2016, for initiation of Corporate Insolvency Resolution Process (CIRP) due to unpaid operational debt.
A power purchase agreement was executed between Damodar Valley Corporation (DVC) and Jai Venketesh Concast Private Limited on May 20, 2012, and November 18, 2021, for the supply of electrical power.
The West Bengal Electricity Regulatory Commission (WBERC) determined the final tariff for the period 2017-2018 and 2018-2020 through orders dated May 05, 2022, and June 17, 2022.
DVC raised final/differential bills dated June 02, 2022, for Rs. 4,42,98,859/- and July 01, 2022, for Rs. 1,59,46,251/- due to the enhancement of tariff.
The electricity supply to the Corporate Debtor was disconnected on August 20, 2022, due to non-payment of the security deposit.
…Execution of power purchase agreement between…
Execution of power purchase agreement between…