SL. No.1

NATIONAL COMPANY LAW TRIBUNAL

HYDERABAD BENCH COURT HALL NO: II

Hearing Through: VC and Physical (Hybrid) Mode

CORAM: SHRI. RAJEEV BHARDWAJ – HON’BLE MEMBER (J)

CORAM: SHRI. SANJAY PURI - HON’BLE MEMBER (T)

ATTENDANCE-CUM-ORDER SHEET OF THE HEARING OF NATIONAL COMPANY LAW TRIBUNAL,

HYDERABAD BENCH, HELD ON 14.02.2025 at 10:30 AM

TRANSFER PETITION NO.

IA (IBC)/2309/2024 and IA (IBC)/2465/2024 in COMPANY PETITION/APPLICATION NO.

CP (IB) No.12/10/HDB/2019

NAME OF THE COMPANY Parikh Fabrics Ltd

NAME OF THE PETITIONER(S) NAME OF THE RESPONDENT(S)

UNDER SECTION 10 OF IBC

ORDER

IA (IBC)/2309/2024 and IA (IBC)/2465/2024

Orders pronounced, recorded vide separate sheets. In the result, these applications

are disposed of with directions.

Sd/- Sd/-

MEMBER (T) MEMBER (J)

Apoorva

IN THE NATIONAL COMPANY LAW TRIBUNAL HYDERABAD BENCH -II [Section 60(5) of Insolvency & Bankruptcy Code, 2016 read with Rule 11 of the NCLT Rules, 2016]

In the matter of M/s.Parikh Fabrics Private Limited IA No.2309 of 2024 M/s.Parikh Fabrics Private Limited, Represented by its Liquidator, Mr.Shivarama Prasad Bhamidi, Flat No.308B, 3^rd Floor, Sai Tirumala Towers, Hyderguda, Hyderabad, Telangana – 500 029.

E-mail : camurty.gsn@gmail.com … Applicant/Corporate Debtor V E R S U S The Superintendent Engineer (Operations), Nellore Circle, Southern Power Distribution Company of AP (APSPDCL), Nellore, Andhra Pradesh – 524 001.

E-mail : aao_ht@apspdcl.in …Respondent IA No.2465 of 2024 The Superintendent Engineer (Operations), Nellore Circle, Southern Power Distribution Company of AP (APSPDCL), Nellore, Andhra Pradesh – 524 001.

E-mail : aao_ht@apspdcl.in … Applicant Date of Order: 14.02.2025 A N D M/s.Parikh Fabrics Private Limited, Represented by its Liquidator, Mr.Shivarama Prasad Bhamidi, Flat No.308B, 3^rd Floor, Sai Tirumala Towers, Hyderguda, Hyderabad, Telangana – 500 029.

E-mail : camurty.gsn@gmail.com …Respondent Date of Order: 14.02.2025 Coram:

Sri Rajeev Bhardwaj, Hon’ble Member (Judicial)

Sri Sanjay Puri, Hon’ble Member (Technical)

Counsel/Parties present:

IA No.2309/2024 For the Applicant : Mr.G.Srikanth, Ld. Counsel For the Respondent : Mrs.A.Sandhya Rani, Ld. Counsel For the Liquidator : Mr.Sivarama Prasad Bhamidi, Ld. Liquidator IA No.2465/2024 For the Applicant : Mrs.A.Sandhya Rani, Ld. Counsel For the Respondent : Mr.G.Srikanth, Ld. Counsel For the Liquidator : Mr.Sivarama Prasad Bhamidi, Ld. Liquidator P e r: Rajeev Bhardwaj, Member (Judicial)

O R D E R

1. The issue involved in the IA Nos. IA No.2309 of 2024 and IA(IBC)

No.2465 of 2024 is whether the Superintendent Engineer (Operational), Date of Order: 14.02.2025 Southern Power Distribution Company of AP (APSPDCL) can set off its claim for its dues from M/s.Parikh Socks & Accessories Private Limited (PSAPL) which is claimed to be a subsidiary of M/s.Parikh Fabrics Private Limited (PEPL/Corporate Debtor/CD).

2. The PEPL was put in Corporate Insolvency Resolution Process (CIRP) in CP No.12/10/HDB/2019 vide order dated 8^th December, 2019 and then the liquidation order was passed on 21^st January, 2020.

3. Before the CIRP, the APSPDCL and the PFPL executed agreements dated

13.4.2010 and 25.07.2011 for the supply of electricity to PFPL under HTSC No. 439. When the electricity charges were not paid, the power supply was disconnected on 13^th January, 2020.

4. The APSPDCL has also executed separate power supply agreement with PSAPL. For non-payment of the dues, this agreement was terminated on 20.11.2013 and on that date, the arrears was Rs.1,06,52,829/- under HTSC No.459. Accordingly, notice dated 12.02.2016 (Annexure 5 of IA 2309 was also issued to PSAPL. Another notice dated 16.02.2016 (Annexure 6 of IA 2309) was sent to PSAPL.

5. For the payment of arrears of electrical charges of the PFPL, the APSPDCL after adjusting CC charges against the security amount, informed the PFPL vide letter dated 28.07.2020 that remaining amount of Rs.5,51,522 is available.

Date of Order: 14.02.2025

6. The PFPL then approached this Authority by filing an IA N