AKSHAYA TEXTILES LIMITED Vs. TAMIL NADU ELECTRICITY BOARD

JUDGEMENT

(1.) AT this stage of the hearing of the petitioner, the learned counsel appearing on behalf of the petitioner had submitted that the petitioner's Mill is a sick industry declared as such by the Board for Industrial and Financial Reconstruction (B.I.F.R.) and it is under a rehabilitation scheme. He had also submitted that there are nearly 500 employees, who are engaged in the petitioner's spinning mill. If the Electricity supply is not restored by the respondent Tamil Nadu Electricity Board, the petitioner mill cannot be rehabilitated, as per the direction issued by the Board for Industrial and Financial Reconstruction (B.I.F.R.). The employees of the petitioner mill and their families would also suffer.

(2.) THE learned counsel appearing for the petitioner had submitted that the entire amount of Rs.51,50,217/-, due to the respondent Tamil Nadu Electricity Board, including the electricity tax, which is subjudice before the first Bench of this Court, would be paid by the petitioner in equated monthly installments.

(3.) HOWEVER, it is made clear that if the petitioner mill fails to pay any one of the installments, it would be open to the respondent Tamil Nadu Electricity Board to disconnect the electricity supply to the petitioner mill, as per law. The equated monthly installments shall be paid by the petitioner mill, on or before the 5th of every month. The first of such installments shall commence, on or before the 5th of March, 2010. The initial amount Rs.5 lakhs shall be paid by the petitioner mill to the second respondent, within seven days from the date of receipt of a copy of this order. The writ petition is disposed of with the above directions. No costs.