In the matter of State Bank of India Vs. Maithan Alloys Ltd. &Ors. CA (AT) (Ins) No. 1245-1247 of 2019 & I.A No. 911 – 913 of 2021

Ld. Counsel for the Respondent No. 1 submits that they have paid full consideration as per the settlement to the Liquidator. Ld. Counsel appearing on behalf of the Liquidator is an agreement with the submission made by the Respondent No. 1.

Ld. Counsel for the Respondent No. 1 submits the Liquidator may be directed to pay the electricity charges as per Section 53 of IBC. Prayer allowed.

The parties shall be bound by the terms and conditions of the settlement agreement and auction notice.

Liquidator is directed to extent necessary cooperation so that the electric supply may be restored at the earliest.

Thus, the Appeal is disposed of in terms of the settlement arrived at by the parties.

[Justice Jarat Kumar Jain]

Member (Judicial)

[Dr. Ashok Kumar Mishra]

Member (Technical)