TaxTMI 
TaxTMI 
2026 (9) TMI 355
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....matter in this appeal against the petitioner get extinguished. 2. The facts relevant for disposal of this writ petition are that the petitioner's company is Distribution Licensee. Respondent no. 4 is private limited company incorporated under the Companies Act, 2013, in the name of Monnet Ispat Limited and certificate issued on 01.02.1990. Name of Monnet Ispat Limited was changed to Monnet Ispat and Energy Limited and, therefore, certificate of incorporation was issued by Registrar of Companies on 21.03.2006. Respondent no. 4 entered into an agreement with the Chhattisgarh State Electricity Board for purchase of start up power to a maximum of 4000KVA on 132 Kv for its Unit III situated at Mandir Hasaud, Raipur. The respondent no. 4 filed an appeal before the Electricity Tribunal against the demand to pay Parallel Operation Charges (in short "POC") based on the computation formula adopted by the Commission in its order dated 13.10.2009. The case of petitioner/respondent no. 2 was that the respondent no. 4 (herein) had not installed necessary meters despite lapse of considerate time in terms of the order dated 30.04.2016 so as to enable regarding generation of electricity consumpt....
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....outstandings so far as the subject matter in this appeal against the petitioner gets extinguished. It is this order which is under challenge in this petition. 3. Learned counsel for the petitioner submits that the impugned order passed by the APTEL dated 06.08.2019 is perse illegal and bad in law. He submits that even if IBC has been held to be special law by Hon'ble Supreme Court in its decisions but when issue relates to the electricity dispute, then the Electricity Act, 2003 will take precedence over the IBC. The APTEL failed to take into consideration that POC was calculated as per the order dated 05.04.2019, subsequent to the resolution processed and therefore, respondent no. 4 is liable to make payment. The APTEL has exceeded its jurisdiction while granting relief to the defaulter company/respondent no. 4. 4. Learned counsel for the State would oppose the submission made by learned counsel for the petitioner and would submit that no direct allegation is made against the answering respondent, nor any relief has been claimed and therefore, the respondent no. 1 is not required to file detail reply and hence he prefers not making any further arguments on merits of the case.....
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.... by the Chief Electrical Inspector on a monthly basis, in prescribed format (figure indicated at 'Çolumn-G'), by 4 paise per kWh. We direct that the Chief Electrical Inspector shall furnish this data of CSPDCL on a monthly basis, by first week of every month, so as to enable the latter to raise the POC bill." 9. Since the Order dated 30.04.2016, which was impugned in t present appeal stand modified, the present appeal has beco infructuous, therefore the Applicant-2nd Respondent have sought dismissal of the appeal. 10. The Appellant did not file any reply objecting IA No. 615 of 2019, though it had filed an affidavit in reply in response to IA No. 299 of 2019 filed by 2nd Respondent. In terms of this affidavit the stand of the Appellant seems to be that the Appellant Company has no obligation to any entity including 2nd Respondent herein by virtue of Orders dated 24.07.2018 by NCLT. What we observe from the said affidavit is as under: The Appellant Company underwent Insolvency Resolution process under the Insolvency and Bankruptcy Code, 2016 (IBC). On account of huge amounts becoming due to various banks, the Corporate Insolvency Resolution ....
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....y virtue of the order of the NCLT approving the Resolution Plan, and the Company and/or Consortium shall at no point of time be, directly or indirectly held responsible or liable in relation thereto. By virtue of the order of the NCLT approving this Resolution Plan, all new inquiries, investigations, notices, suits, claims disputes, litigation, arbitration or other judicial, regulatory or administrative proceedings will be deemed to be barred and will not be initiated or admitted against the Company in relation to any period prior and the members of the Board of Directors and management of the Company who are appointed on or after the Acquisition shall not be liable, in any manner whatsoever, for any criminal action or liability in relation to any inquiries, investigations, notices, causes of action, suits, claims, disputes, litigation or other judicial, regulatory or administrative proceedings against, or in relation to, or in connection with the Company or the affairs of the Company in relation to any period prior to the Acquisition or arising on account of the Acquisition." 8. From the arguments raised as also from the contents of the order which APTEL has passed, it is appar....
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....e is NIL, on the suggestion made by this Bench, the Resolution Applicant have come forward by filing an Affidavit agreeing to pay Rs. 25 crores within a period of one year from the date the final resolution plan becomes effective, to the operational creditors (other than employees and workmen) in the manner directed by this Bench. 10. As to Rs. 25 Crores, since the Resolution Applicant agreed to distribute among the operational creditors other than employees and workmen, debt valuing Rs. 114,81,27,623 (Exhibit A to the Affidavit filed by the Resolution Applicant on 13.07.2018), the Resolution Applicant is hereby directed to pay to the operational creditors on pro rata basis in compliance with principle of pari passu within one year from the date of delivery of this order, i.e. 24.07.2018. 11. In respect to treatment of other creditors, this approved resolution plan discloses that all other liabilities and obligations of the Corporate Debtor are being extinguished in full and all litigations and proceedings in respect to debts pending against the corporate Debtor prior to commencement of CIRP shall stand abated as the liquidation value due to those creditors as per....