R P Nagrath, Member - (1.) Mr. G.S. Sarin, Practising Company Secretary and Mr. Prakash Dev Sharma, Resolution Professional for Applicant/ Corporate Debtor. Vide order dated 07.04.2017, CP (IB) NO. 08/Chd/CHD/2017 filed by the Corporate Debtor under Section 7 of the Insolvency and Bankruptcy Code, 2016 was admitted with certain directions and declaring moratorium. Mr. Prakash Dev Sharma, Regn. No. IBBI/PA-002/IP00020/2016-17/1561 was appointed as the Interim Resolution Professional. It is stated by Mr. Prakash Dev Sharma that he has been confirmed by the Committee of Creditors as Resolution Professional in the meeting held on 04.05.2017.
(2.) It is, inter alia, represented that the Company was in arrears of electricity dues to the tune of Rs.5,63,394/- for the months of March and April, 2017 as on 25.05.2017. Thereafter the company has made part payment of RS.2,44,738/-, f 1,00,000/- on 17.04.2017 and 24.04.2017, respectively' and the bills outstanding would continue to be paid on monthly basis as per the cash flow position.
(3.) It is further represented that the matter was also discussed personally with the Senior Executive Engineer, Himachal Pradesh State Electricity Board, Baddi on 15.05.2017 within whose charge the business premises falls and a written representation was also made, copy of which is at Annexure-3. However, the Senior Executive Engineer and his team disconnected supply of electricity of the factory on 25.05.2017.;