JAISHREE STEELS PRIVATE LIMITED vs WEST BENGAL STATE ELECTRICITY DISRIBUTION COMPANY LIMITED - 2024-01-12

O R D E R

1. On 01.12.2023, the petitioners were directed to submit an undertaking by way of affidavit alongwith a schedule of full payment within 15 months through monthly instalments. Meanwhile, regardless to their failure to honour earlier undertakings, the respondent/Power Company was directed not to disconnect the power supply. In deference thereto, the petitioners filed an undertaking proposing to pay the entire balance amount of Rs.10,27,01,804/- (Rupees Ten Crores Twenty-Seven Lakhs One Thousand Eight Hundred and Four) through the following 14 instalments:

“SCHEDULE OF PAYMENTS OF REMAINING AMOUNT BEING RS. 10,27,01,804/- (TOTAL RS. TEN CRORE TWENTY SEVEN LACS ONE THOUSAND EIGHT HUNDRED AND FOUR ONLY) BY 14TH MONTHLY INSTALLMENTS

S. NO. OF AMOUNT (IN RS.) SCHEDULE/DATE OF PAYMENT

INSTALLMENTS TO

BE PAID

1st Installment 73,35,844/- Between 1st and 7th February, 2024

2nd Installment 73,35,844/- Between 1st and 7th March, 2024

3rd Installment 73,35,844/- Between 1st and 7th April, 2024

4th Installment 73,35,844/- Between 1st and 7th May, 2024

5th Installment 73,35,844/- Between 1st and 7th June, 2024

6th Installment 73,35,844/- Between 1st and 7th July, 2024

7th Installment 73,35,844/- Between 1st and 7th August, 2024

8th Installment 73,35,844/- Between 1st and 7th September, 2024

9th Installment 73,35,844/- Between 1st and 7th October, 2024

10th Installment 73,35,844/- Between 1st and 7th November, 2024

11th Installment 73,35,844/- Between 1st and 7th December, 2024

12th Installment 73,35,844/- Between 1st and 7th January, 2025

13th Installment 73,35,844/- Between 1st and 7th February, 2025

14th Installment 73,35,844/- Between 1st and 7th March, 2025

2. When the matter came up for hearing on 08.01.2024, learned senior counsel for the respondent-Power Company, pointed out that the petitioners are also liable to pay interest on the deferred payment. An additional interest liability of approximately Rs.39 to 40 lakhs was pointed out.

3. Keeping in view all the attending circumstances, we directed that if the petitioners would pay 50% of the additional interest amount, i.e., approximately Rs.1,42,000/- (Rupees one lakh forty- two thousand) per month, in addition to the amount of monthly instalments, as reproduced above, that will be treated as a full and final payment on their behalf.

4. The matter was adjourned to enable learned counsel for the petitioners to have instructions.

5. It is stated by learned counsel for the petitioners, on instructions, that they are willing to pay an additional amount of Rs.1,42,000/- per month over and above the amount of monthly instalments as per their undertaking, to finally settle the dispute.

6. In view of the statement, the Miscellaneous Application is disposed of with a direction that the petitioners shall abide by the schedule of payment, as reproduced above, which shall include an additional amount of Rs.1,42,000/- per month.

7. So long as the petitioners continue to pay the monthly instalment regularly, the disconnection of the power supply shall remain stayed. In the event of a single default, the undertaking given before this Court shall be deemed to have been breached, and the respondent/Power Company shall be at liberty to disconnect the power supply and determine the liability in accordance with law.

8. All pending applications, if any, also stand disposed of. (ARJUN BISHT) (PREETHI T.C.)

COURT MASTER (SH) COURT MASTER (NSH)