The High Court addressed the maintainability of a writ petition ...

CIRP - High Court ruled in favor of petitioner in electricity dues recovery case. Resolution plan approved, creditors bound.

Case Laws Insolvency and Bankruptcy

June 8, 2024

The High Court addressed the maintainability of a writ petition concerning the recovery of electricity dues from the petitioner after it was taken over u/s 31(1) of the Insolvency and Bankruptcy Code. The court noted that the approved resolution plan binds all creditors, including government authorities. Public announcements were made for creditors to submit claims, and the resolution plan was approved by the NCLT. The court allowed the deposit of the resolution amount into an Escrow account for distribution to creditors. The court found the petition maintainable despite the availability of an alternative remedy u/s 60(5)(c) of the I&B Code, as the petitioner sought a mandamus due to the respondents denying electricity connections based on pending dues. The petition was allowed.

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The High Court addressed the maintainability of a writ petition ...

CIRP - High Court ruled in favor of petitioner in electricity dues recovery case. Resolution plan approved, creditors bound.

Case Laws Insolvency and Bankruptcy

June 8, 2024

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