SABYASACHI BHATTACHARYYA
Rashidhan Sales Private Limited – Appellant
Versus
Damodar Valley Corporation – Respondent
JUDGMENT
Sabyasachi Bhattacharyya, J. - One Shri Badrinarayan Alloys & Steels Limited (hereinafter referred to as 'the borrower') was enjoying electricity at its premises from the respondent no. 1, the Damodar Valley Corporation (for short, 'the DVC'). The DVC issued a disconnection notice on August 28, 2018 on the allegation of non-payment of electricity and disconnected the electricity supply of the borrower sometime in the month of September, 2018.
2. On December 5, 2018 a Corporate Insolvency Resolution Proceeding (CIRP) was initiated against the borrower at the behest of the Bank of Baroda. The National Company Law Tribunal (NCLT), by its order dated September 6, 2019, recorded that the resolution process had failed and appointed a liquidator under Section 33 (4) of the Insolvency and Bankruptcy Code, 2016 (in brief, 'the IBC'). On November 21, 2019 the resolution professional moved an application for a direction on the DVC to reconnect electricity supply for the corporate debtor, which was turned down by the NCLT.
3. On December 10, 2020 an order was passed directing the entire land of the borrower's property to be sold. Accordingly, the liquidator published an e-auction notice
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