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NCLT issues notice to EESL amidst insolvency plea

Oct 12, 2023

By: BlinkX Research Team

The National Company Law Tribunal (NCLT) has taken action against Energy Efficiency Services Limited (EESL), a public sector entity. NEEV Energy LLP raised a plea for insolvency resolution, seeking ₹3.23 crore in outstanding dues.

NEEV Energy LLP asserted that they were awarded a 2017 tender by EESL to install and maintain LED street lights in Uttar Pradesh and Bihar over seven years. Allegedly, EESL began defaulting on payments from 2019 to 2023, violating the tender's terms, which required payment 30 days after invoicing. EESL cited poor performance as the reason for non-payment.

After sending a warning notice under the Insolvency and Bankruptcy Code, 2016, NEEV resorted to filing an insolvency plea due to EESL's unsatisfactory response.

The NCLT has now issued a notice to EESL, and the case will be further considered on November 8. This marks the second insolvency plea against EESL, following a similar issue with Sumargsai Technologies in Andhra Pradesh in 2022.