2021 (6) TMI 1104 - AT - Insolvency and Bankruptcy

Direction for payment of electricity charges - Respondent No. 1 submits the Liquidator may be directed to pay the electricity charges as per Section 53 of IBC - HELD THAT - Prayer allowed.

Summary

The National Company Law Appellate Tribunal, Principal Bench in New Delhi disposed of the appeal based on a settlement between the parties. The Respondent paid full consideration to the Liquidator, who agreed with the submission. The Liquidator was directed to pay electricity charges as per Section 53 of IBC. The parties are bound by the settlement agreement and auction notice. The Liquidator was directed to provide necessary cooperation for the restoration of electric supply.