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2024 Supreme(Online)(Mad) 56365

IN THE HIGH COURT OF JUDICATURE AT MADRAS
N.SESHASAYEE, J
The National Sewing Thread Co. Ltd. – Appellant
Versus
The Superintending Engineer TANGEDCO – Respondent


Advocates:
For the Appellants/Petitioners: Mr.E.Omprakash, Mr.Imayavaramban
For the Respondents: Ms.Keerthana R.Shenoi, Mr.V.Venkata Seshaiya

Table of Content
1. facts regarding the petitioner and background of the case. (Para 2 , 3)
2. arguments by the petitioner and tangedco regarding claims. (Para 4)

ORDER

This petition was filed for a writ of certiorarified mandamus to quash the demand notice of the respondents and to further direct the respondents to provide the electricity connection.

THE FACTS:

2. The case of the petitioner is as below:

a) The petitioner herein is a public limited company, and it is also registered under the MSME Act, 2006. It had availed financial assistance from M/s. Indian Overseas Bank (henceforth IOB). However, it suffered huge business loss owing to which it could not service its loan-liability to the IOB, and as to be expected its loan was notified as NPA by the lender. Thereafter on 24.03.2017, the IOB assigned the debt of the petitioner-company to M/s. Alchemist Asset Reconstruction Company Ltd., (hereinafter referred to as 'Financial Creditor/FC).

b) The assignee of the loan, as a Financial Creditor moved the NCLT with an application under Sec.7 of the IBC against the petitioner- company for initiating a Corporate Insolvency Resolution Process (henceforth CIRP). The statutorily prescribed co

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