ICICI BANK LTD Vs. INNOVENTIVE INDUSTRIES LTD

JUDGEMENT

(1.) The Applicant is a public sector undertaking company supplying electricity to the Public of Maharashtra, since this applicant has been supplying electricity to this corporate debtor, it has filed this Miscellaneous Application stating that for this corporate debtor failed to pay to the electricity supplied to the Industry run by the Corporate Debtor, the Applicant has already issued notices u/s. 56(1) of the Electricity Act 2003 on 20.01.2017, 17.02.2017 & 26.03.2017 to this consumer in respect two connections maintained by this debtor giving 15 days' time for making payment of the dues payable to the Applicant.

(2.) In spite of serving such notices upon this Corporate Debtor, Corporate Debtor has failed to make payments as demanded by the Applicant herein except a part payment of Rs.48,07,402 towards dues that arose from January 2017 till August 2017. Applicant's Counsel submits that as on 18.01.2017, the total outstanding arrears of electricity bill payable by the Corporate Debtor for High Tension Consumer No. 184279045210 is Rs.1,25,83,970 and High Tension Consumer No. 184819033250 is Rs.1,55,43090 total aggregating to Rs.2,81,21,060. Since the Corporate Debtor made payment of Rs.48,07,402 on 18.08.2017, the total outstanding arrears payable by the Corporate Debtor as on date has aggregated to Rs.2,38,00,650.

(3.) The Applicant's Counsel states that distribution companies have to purchase power from generation companies, if dues are stuck like this, it will be difficult for distribution companies and government to provide essential services to the public. He further submits that the power supply to this company is not for catering essential services, it is indeed supplied to cater manufacturing purpose which is not covered under Regulation 32 of CRP Regulations, therefore, these dues are not covered under Section 14(2) of the IB Code henceforth, the Counsel prays this Bench to clarify that supply of electricity to this company for manufacturing purpose is not essential service.