Facts & Background:

• Paschimanchal Vidyut Vitran Nigam Limited (hereinafter referred to as PVVNL), the operation creditor, was the Appellant.
• Raman Ispat Pvt. Ltd., the Corporate Debtor and others were Respondents.
• The parties entered into an agreement on 11.02.2010 for electricity supply, stipulating that outstanding dues would be a charge on assets and must be settled before sale or expressly acknowledged with a payment mechanism.
• PVVNL issued invoices for electricity supplied to the Corporate Debtor-Respondent, however, the outstanding dues remained unpaid, which resulted in the attachment of the corporate debtor’s properties through Order No. 1048 on 12.01.2016.
• The Tehsildar Muzaffarnagar issued Order No. 1423F on 23.01.2016 restraining the transfer of property and creating a charge. The Corporate Debtor underwent an unsuccessful resolution process under the IBC and was subjected to liquidation.
• The final bill dated 27.01.2017 recorded arrears of ₹4,32,33,883/-. The District Collector issued a recovery notice for ₹2,50,14,080/- by auctioning movable and immovable properties at Khasara No. 0.4710 on 05.03.2018.
• The liquidator asserted that buyers refrained from purchasing as the attachment orders remained in effect and contended that PVVNL’s claim was classified under Section 53 of the IBC for pro-rata distribution.
• The Respondent filed an application before the National Company Law Tribunal, Allahabad, challenging the Tehsildar’s order. The Tribunal directed the release of the attached property to the liquidator, affirming PVVNL’s status as an operational creditor.
• Aggrieved by the decision of the NCLT (Allahabad), the Appellant filed an appeal before the National Company Law Appellate Tribunal, New Delhi, which upheld the decision of the NCLT.
• Hence, the present appeal.
  

Main Issue:

• Whether the amounts payable to PVVNL fell within the description of Section 53(1)(f) of the Insolvency and Bankruptcy Code, 2016?