SRI GANGADHARA STEELS LIMITED Vs. PEC LIMITED

JUDGEMENT

(1.) The Company Application No. 10 of 2018 in CP (IB) No.40/7/HDB/2017 is filed by Mr. Vikram Kumar, Resolution Professional in the matter of Sri Gangadhara Steels Limited, under section 14(2) and Section 19(2) of the Insolvency & Bankruptcy Code 2016 by inter alia praying the following relief from this Bench:

(2.) Heard Mr. Yash Vardhan, learned Counsel for the Petitioner and Mr. Vikram Kumar, Resolution Professional. The Learned R.P. submits that in pursuant to his appointment as IRP by an order dated 14.09.2017, he has initiated in the process of IRP in respect of the Company. He submit that he is functioning in the premises of the Company, wherein the staff numbering about 11 persons are working and all of a sudden, the electricity connection was disconnected by the 2nd Respondent on 12.12.2017, even though he made a request to the 2nd Respondent and the 2nd Respondent did not adhere to his request and they are suffering a lot with disconnection of electricity.

(3.) He further submits that under Section 14 (2) of IBC electricity being essential services under Regulations 32 of the CIRP Regulations should not be terminated or suspended or interrupted during the period of moratorium. The learned RP further submitted that he has filed representation dated 18.12.2017 requesting the APEPDCL to immediately restore the electricity connection.