190 SEBI & Corporate Laws - Reports [Vol. 154
running
the
Company.
However,
the
operations
at
the
factory
of
Corporate
Debtor^
are
closed
down.
Therefore,
there
is
no
need
for
high
transmission
power^
line.
It
is
contended,
HT
tariff
rates
are
higher
than
the
LT
tariff
rates.
There
fore, -
direction
is
sought
to
APEPDCL
to
change
the
supply
of
power
from
HT
Service^
to
LT
service.The
Liquidator
is
first
directed
to
move
the
APEPDCL
by
making
necessary
application^
for
change
of
supply
of
power
to
Corporate
Debtor/M/s.
Sree
Ramakrishna^
Alloys
Limited
from
High
Tension
category
to
LT
category.
The
procedure^
if
any
prescribed
for
change
be
first
followed
by
Liquidator.
The
APEPDCL^
is
directed
to
respond
to
the
request
if
any
made
by
the
Liquidator
on^
behalf
of
M/s.
Sree
Ramakrishna
Alloys
Limited
for
change
of
category
of
supply^
of
power,
as
requested.In
the
result,
Application
is
allowed
directing
the
Liquidator
at
the
first
instance^
to
apply
to
APEPDCL
for
change
of
power
supply
to
the
Corporate
Debtor/M/s.^
Sree
Ramakrishna
Alloys
Limited
from
HT
category
to
LT
category^
and
in
case
such
request
is
made
and
if
it
is
in
accordance
with
the
Rules,^
the
APEPDCL
is
directed
to
consider
the
request
favourably
and
effect
change^
from
HT
category
to
LT
category
for
the
Corporate
Debtor/M/s.
Sree
Ramakrishna^
Alloys
Limited.
The
Liquidator
is
further
directed
to
approach
the^
Tribunal
for
any
further
direction
if
necessary.nn
[2019] 154 SCL 190/106 taxmann.com 177 (NCL-AT)
NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHIC. Mahendra International Ltd.
v.
Naren Sheth
JUSTICE S.J. MUKHOPADHAYA, CHAIRPERSON
A.I.S. CHEEMA, JUDICIAL MEMBER
AND KANTHI NARAHARI, TECHNICAL MEMBER
COMPANY APPEAL (AT) (INSOLVENCY) NO. 501 OF 2019
MAY 9, 2019Resolution plan submitted by a shareholder company of corporate debtor
company under CIRP was ineligible in terms of section 29A
Section 29A, read with section 33, of the Insolvency and Bankruptcy Code, 2016