CWP No.16601 of 2010.doc - 1 – HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH **** CWP No.16601 of 2010 Date of Decision: 15.09.2010 **** Manglam Recycling Ltd. . . . . Petitioner VS. Punjab State Power Corp. Ltd.& Ors. . . . . . Respondents **** CORAM : HON’BLE MR.JUSTICE SURYA KANT **** 1. Whether Reporters of local papers may be allowed to see the judgment? 2. To be referred to the Reporters or not? 3. Whether the judgment should be reported in the Digest? **** Present: Mr. RS Ahluwalia, Advocate for the petitioner ***** SURYA KANT J. (ORAL) (1). The petitioner who had purchased the premises of M/s. Vishwakarma Alloys Ltd. in Village Kanganwal, District Ludhiana from the State Bank of Patiala, in the proceedings held under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, is aggrieved by the communication dated 29.07.2010 (Annexure P6) received from the Punjab State Power Corporation Ltd. asking the petitioner to comply with the conditions as per the Rules like deposit of the fresh security amount etc. for continuation of the power supply which CWP No.16601 of 2010.doc - 2 – was earlier granted to M/s. Vishwakarma Alloys. The petitioner on the other hand relies upon the agreement entered with the Bank in terms whereof the subject premises has been purchased by it. (2). Having heard learned counsel for the petitioner, I do not find any fault with the impugned communication. Suffice it to say that the Power Corporation is not a party to the agreement relied upon by the petitioner. Since the legal entity of the consumer has changed, the Power Corporation is well within its right to insist for furnishing afresh security along with the requisite documents for the transfer of power connection in the name of the petitioner. (3). Faced with this, learned counsel for the petitioner submits that should there be some reasonable period, the petitioner is willing to comply with the requirements as in the event of disconnection of the power supply the petitioner would suffer irreparable business losses. (4). Taking into consideration the totality of the circumstances, the writ petition is disposed of with a direction that in case the petitioner deposits the requisite security amount with the CWP No.16601 of 2010.doc - 3 – respondent-Corporation within a period of two weeks followed by compliance of the other required formalities, respondents No.2 & 3 shall not disconnect the power supply. However, the connection would be formally transferred in the name of the petitioner only on completion of requisite formalities. (5). Ordered accordingly. Dasti. (SURYA KANT) JUDGE 15.09.2010 vishal shonkar