The NCLT/NCLAT could have exercised jurisdiction under section ...

Court Upholds Stay on Power Purchase Agreement Termination Under IBC Section 60(5)(c) to Protect Corporate Debtor's Viability.

March 9, 2021

Case Laws Insolvency and Bankruptcy SC

The NCLT/NCLAT could have exercised jurisdiction under section 60(5)(c) of the IBC to stay the termination of the PPA by the appellant, since the appellant sought to terminate the PPA under Article 9.2.1(e) only on account of the CIRP being initiated against the Corporate Debtor - The NCLT/NCLAT correctly stayed the termination of the PPA by the appellant, since allowing it to terminate the PPA would certainly result in the corporate death of the Corporate Debtor due to the PPA being its sole contract - SC

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The NCLT/NCLAT could have exercised jurisdiction under section ...

Court Upholds Stay on Power Purchase Agreement Termination Under IBC Section 60(5)(c) to Protect Corporate Debtor's Viability.

March 9, 2021

Case Laws Insolvency and Bankruptcy SC

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