Approved resolution plan entitles corporate debtor to new electricity connection without liability for pre-CIRP dues of third-party lessor; IBC prevails over electricity laws, ensuring clean slate and operational revival.

ORDER

Per: Rekha Kantilal Shah, Member (Technical)

1. I.A. (IB) No. 2481/KB/2024

1.1 This application is filed by the applicant claiming following reliefs-:

a. Direct the Respondent to supply bulk power of 1600 KVA to Premise No. 53-1111, Plot No. CBD-2 Action Area II, P.S. Eco Park, Barasat Sadar, New Town, North 24 Parganas, New Town, Kolkata-700156 admeasuring 3.5 Acres in the name of Sarga Hotel Private Limited;

b. Direct the Respondent to provide new electricity connection for Premise No. 53-1111, Plot No. CBD-2 Action Area II, P.S. Eco Park, Barasat Sadar, New Town, North 24 Parganas, New Town, Kolkata - 700156 admeasuring 3.5 Acres in the name of Sarga Hotel Private Limited;

c. Declare that Sarga Hotel Private Limited is not obligated to make payment of INR 1,97,38,520 (Indian Rupees One Crore Ninety Seven Lakh Thirty Eight Thousand Five Hundred and Twenty only) or any other sums towards outstanding electricity dues for new connection and supply of bulk power at Premise No. 53- 1111, Plot No. CBD-2 Action Area II, P.S. Eco Park, Barasat Sadar, New Town, North 24 Parganas, New Town, Kolkata - 700156 admeasuring 3.5 Acres;

d. Pass any other such order and/ or orders as this Hon'ble Tribunal may deem fit and proper.

2. Background of the Case-:

2.1 On an application filed under Section 7 of the I & B Code, 2016 by one Yes Bank Limited, this Hon'ble Tribunal by an order dated 11th February 2022 directed commencement of CIRP of Applicant No. 1.

2.2 In accordance with the procedure prescribed under the I & B Code, 2016, the Applicant No. 2 was declared as the Successful Resolution Applicant by the Committee of Creditors and accordingly, by an order dated 4th January 2024, this Tribunal approved the resolution plan under Section 30 (6) read with Section 31 of the I & B Code, 2016.

2.3 It is pertinent to mention here that the sole business of the Corporate Debtor is situated over the 3.5 acre of land at Premise No. 53-1111, Plot No. CBD-2, Action Area II, P.S. Eco Park, Barasat Sadar, New Town, North 24 Parganas, New Town, Kolkata - 700156 (hereinafter referred to the hotel premises) where, a five-star hotel is being run and operated under the brand name “Westin” being “The Westin Kolkata Rajarhat”.

3. Facts of the case-:

3.1 The Applicant No. 1, is Sarga Hotel Private Limited, i.e., the Corporate Debtor through its Successful Resolution Applicant. The registered office of the Applicant No. 1 is at Premise No. 53-1111, Plot No. CBD-2 Action Area II, P.S. Eco Park, Barasat Sadar, The Westin, New Town, North 24 Parganas, New Town, Kolkata-700156 and Applicant No. 2, is the Successful Resolution Applicant of the Applicant No. 1/ Corporate Debtor, namely Shri Ram Multicom Private Limited, having its registered office at Unit No.3 3rd Floor Ideal Centre, 9 A.J.C. Bose Road, Kolkata –700017.

3.2 That the present application has been instituted by the person in-charge of the management and control of the business and operations of the Corporate Debtor under Section 60(5) of the Insolvency & Bankruptcy Code, 2016 read with Regulation 39 (8) of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 read with Rule 11 of the National Company Law Tribunal Rules, 2016 for seeking directions upon the Respondent for implementation of the resolution plan which has been duly approved by this Tribunal vide order dated 4th January 2024 in I.A. (IBC) No.1054/KB/2023.

3.3 The Corporate Debtor is a lessee of the aforesaid land in as much as the said land, along with adjacent contagious land cumulating to 8 acre is owned by on Shristi Infrastructure Development Corporation Limited (hereinafter