Successful Resolution Applicant paid pre-CIRP electricity dues ...

Supreme Court: Power Company Can't Demand Pre-CIRP Arrears for Electricity Restoration; Resolution Applicant's Appeal Allowed.

November 15, 2024

Case Laws IBC AT

Successful Resolution Applicant paid pre-CIRP electricity dues under protest to Respondent for restoring Corporate Debtor's electricity connection to revive operations per Resolution Plan. Payment related to Corporate Debtor's revival and Insolvency Resolution Process, hence refund claim falls u/s 60(5)(c) of IBC. Supreme Court's decision followed that power distribution company cannot insist on pre-CIRP arrears for restoring electricity. Respondent benefited from non-filing of claim, received higher amount than entitled under Resolution Plan. NCLT had directed restoration of approvals/licenses. Matter pertains to Respondent's non-compliance and insistence on extinguished pre-CIRP dues, covered u/s 60(5)(c). Impugned order set aside, appeal allowed.

View Source

← Previous Next →

Successful Resolution Applicant paid pre-CIRP electricity dues ...

Supreme Court: Power Company Can't Demand Pre-CIRP Arrears for Electricity Restoration; Resolution Applicant's Appeal Allowed.

November 15, 2024

Case Laws IBC AT

You may also like:

NCLAT dismissed an appeal concerning pre-CIRP electricity dues, affirming NCLT's jurisdiction over post-resolution plan disputes under IBC Section 60(5). The Tribunal...

Successful Resolution applicant - Restoration of electricity connection - pre-CIRP dues - refusal on the ground of electricity dues - The Respondent cannot insist that...

NCLAT affirmed NCLT's jurisdiction to address pre-CIRP dues refund applications under Section 60(5)(c). The tribunal held that all pre-CIRP claims were extinguished upon...

This case deals with the extinguishment of demands due to the non-filing of claims by the revenue during the Corporate Insolvency Resolution Process (CIRP) under the...

The Appellant sought payment of its pre-CIRP dues from the Respondent in a manner different from the approved resolution plan, which provided for payment of pre-CIRP...

CIRP - Recovery of electricity dues - Liability of successful Auction Purchaser in the liquidation proceeding of the Corporate Debtor - The submission of the Appellant...

The case pertains to the extinguishment of claims under the Insolvency and Bankruptcy Code (IBC) against Ruchi Soya Industries Limited, after the acceptance of the...

NCLAT upheld that electricity supply cannot be discontinued during CIRP period under Section 14(2) of IBC, even if payment is pending. The tribunal determined...

CIRP - direction to restore the electricity supply to the respondent no. 1 herein (writ petitioner) only on the reconnection charges without insisting upon deposit of...

Appeal against restoration of the name of the company in the Register of Companies - It is contended that the Appellants being the suspended Directors are helpless and...

Jurisdiction of the Adjudicating Authority (NCLT) to adjudicate upon a closure notice issued prior to the initiation of the Corporate Insolvency Resolution Process...

The Appellate Tribunal dismissed the appeal, holding that the appellant's claim for outstanding income tax demands against the corporate debtor could not be admitted...

Restoration of name of the company in the Register of Companies - there was no situation to justify the restoration of name of the Company - It is true that this...

A resolution plan was approved for the petitioner on 26.03.2021 under the Insolvency and Bankruptcy Code (IBC). The Municipal Corporation of Delhi (MCD) demanded...

Restoration of company petition seeking initiation of CIRP - In view of another petition, the fist petitioner was asked to approach IRP for further action - effect of...

Quick Updates: