PSPCL urged to restore power supply to JCT Mill

The Interim Resolution Professional (IRP) of the corporate debtor appointed by National Company Law Tribunal (NCLT), Hasti Mal Kachara, has urged the Punjab State Power Corporation Ltd (PSPCL) to restore power supply to JCT Ltd, Phagwara. In a detailed representation submitted before PSPCL authorities, he explained that electricity supply is one of the essential services, specified in CIRP Regulations.

As per Section 14(2) of the code, the supply of essential goods or services to the corporate debtor as may be specified shall not be terminated or suspended or interrupted during the moratorium period.

He wrote that as per section 17 of the Insolvency and Bankruptcy Code, 2016, the powers of the Board of Directors of JCT Limited stand suspended and all the powers of the Board are now vested with the Interim Resolution Professional.

A copy of the submission was also sent to Phagwara Superintendent of Police Rupinder Kaur Bhatti. Notably, the officers of Punjab State Power Supply Corporation disconnected supply to entire JCT Mill, including its residential Thapar Colony due to non-payment of long-pending electricity bill of over Rs 4 crore 51 lakh on November 29 last year.