BIHAR STATE ELECTRICITY BOARD versus THE PATNA ELECTRIC SUPPLY CO. LTD. & ORS.
PESCO is entitled to recover Rs. 36.59 lakhs from BSEB, since it has been able to prove through affidavits and certificates from Bank of India that the amount had been paid by it to the Bank in settlement of liabilities shown in its accounts.
- Parties
- Appellant: Bihar State Electricity Board; Respondent No.1: Patna Electric Supply Company Limited; Interested Party: Bank of India
- Jurisdiction
- India
- Judgment Date
- 01 September 2011
- Procedural Posture
- Civil Appeal / Order on Interlocutory Application
- Outcome
- Application disposed of
- Legal Topics
- Purchase Price Determination, Book Value Compensation, Settlement of Dues
Case Brief
Summary, issues, holding and outcome
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Parties
Bihar State Electricity Board
Appellant
Patna Electric Supply Company Limited
Respondent No.1
Bank of India
Interested Party
Procedural Posture
Civil Appeal / Order on Interlocutory Application
Legal Issues
- 1 Whether PESCO is entitled to recover Rs. 36.59 lakhs from BSEB for payment made to Bank of India in settlement of liability shown in PESCO's accounts
Ratio Decidendi
PESCO is entitled to recover Rs. 36.59 lakhs from BSEB, since it has been able to prove through affidavits and certificates from Bank of India that the amount had been paid by it to the Bank in settlement of liabilities shown in its accounts.
Court Disposition
Application disposed of
Orders
- BSEB directed to reimburse to PESCO Rs. 36.59 lakhs, together with interest at 6 per cent per annum from 19.12.2001 till the date of the order.
- Payment to be made within one month from the date of communication of the order.
Full Case Text
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