JUDGMENT

D.P. Mohapatra, J.-In these appeals filed by special leave, the U.P. State Electricity Board (for short the Board ), a statutory body constituted under the Electricity (Supply) Act, 1948 assails the judgment of the Division Bench of the Calcutta High Court vide its Judgment dated 26.8.1982 in the Appeal from Original Order No. 229 of 1980 dismissing the appeal filed by the Board and confirming the judgment passed by the single Judge.

2. The core question that arises for determination in these cases is whether the Board is liable to pay to the liquidators of the company (in liquidation) respondent herein the sum of Rs. 68,29,636.87 together with interest being the amount collected by the Board between the 4th/5th February, 1975 till 30th April, 1979 towards arrears of electricity charges for the electricity supplied to consumers during periods prior to the take over of the Undertaking by the Board, and all collections made by the Board subsequently on that account.

3. The factual matrix of the case, which is not in dispute, may be stated thus:

Banaras Electric Light & Power Co. Ltd. (hereinafter described as the Company ) was the holder of the license dated 6th February