Paschimanchal Vidyut Vitran Nigam Ltd. vs Raman Ispat Private Limited

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2023 Supreme(SC) 640

S. RAVINDRA BHAT, DIPANKAR DATTA
Paschimanchal Vidyut Vitran Nigam Ltd. – Appellant
Versus
Raman Ispat Private Limited – Respondent

Advocates appeared:
For the Appellant(s) : Mr. Pradeep Misra, AOR
For the Respondent(s): Ms. Purti Gupta, AOR Mr. Arvind Kumar Gupta, Adv. Ms. Purti Gupta, Adv. Ms. Henna George, Adv.

Table of Content
1. background on corporate debtor's insolvency process. (Para 1 , 2 , 3 , 4 , 5)
2. arguments by pvvnl focusing on prioritization under the electricity act. (Para 6 , 7 , 8 , 9 , 10 , 11 , 12)
3. counter-arguments by liquidator regarding ibc prioritization. (Para 13 , 14 , 17 , 18 , 19)
4. analysis of the ibc's provisions and statutory interpretation. (Para 20 , 21 , 22 , 23 , 24 , 25 , 26 , 27 , 28 , 29 , 30 , 31 , 32 , 33 , 34 , 35 , 36 , 37 , 38 , 39)
5. recovery mechanisms under the electricity act and state regulations. (Para 40 , 41 , 42 , 43 , 44 , 45 , 46 , 47 , 48 , 49 , 50 , 51 , 52 , 53)
6. effect of non-registration of a charge under the companies act. (Para 54 , 55 , 56)
7. final conclusion of the court ruling. (Para 57 , 58)

JUDGMENT :

1. The appellant Paschimanchal Vidyut Vitran Nigam Limited (hereinafter “PVVNL”) is aggrieved by an order of the National Company Law Appellate Tribunal (hereinafter, “NCLAT”)¹ [Company Appeal (AT) (Insolvency) No. 639 of 2018, dated 15.05.2019] which rejected its appeal against an order of the National Company Law Tribunal, Allahabad (hereinafter “NCLT”/“Adjudicating Authority”)² [C.A. No. 88/ALD/2018 in CP No. (IB) 23/ALD/2017

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2023 Supreme(SC) 640

S. RAVINDRA BHAT, DIPANKAR DATTAPaschimanchal Vidyut Vitran Nigam Ltd. – AppellantVersusRaman Ispat Private Limited – Respondent

Cases Referred (8)

S. RAVINDRA BHAT, DIPANKAR DATTA
Paschimanchal Vidyut Vitran Nigam Ltd. – Appellant
Versus
Raman Ispat Private Limited – Respondent