TMI Blog2023 (9) TMI 664X X X X Extracts X X X X X X X X Extracts X X X X ..... sistence on on payment of arrears, for grant of an electricity connection can be done or not - overriding effect of IBC - Section 53 of the Code - HELD THAT:- The electricity connection, applied for or revival sought by the successful resolution applicant is not an asset or property. The observations from Embassy Property Developments Private Limited [ 2019 (12) TMI 188 - SUPREME COURT] would ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - HON'BLE MR. JUSTICE SANJIV KHANNA And HON'BLE MR. JUSTICE S.V.N. BHATTI For the Petitioner : Mr. Balbir Singh, A.S.G. Mr. Nishant Sharma, Adv. Mr. Rakesh K. Sharma, AOR Mr. Naman Tandon, Adv ORDER Delay condoned. In our opinion, the legal issue is covered by the judgment of this Court in Paschimanchal Vidyut Vitran Nigam Ltd. vs. Raman Ispat Private Limited and Oth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appropriate, as the said judgment does not deal with the provisions of the Insolvency and Bankruptcy Code, 2016 For short, the Code . In terms of Section 238 of the Code, the provision(s) of the Code will have an overriding effect. The debt due has to be paid in terms of Section 53 of the Code. Accordingly, the decision in K.C. Ninan (supra) was distinguished in Paschimanchal Vidyut Vitran Niga ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the Code, where the issue relates to or arises out of the dues payable to an operational or financial creditor, by observing: 37...It will be a different matter, if proceedings under statutes like Income Tax Act had attained finality, fastening a liability upon the corporate debtor, since, in such cases, the dues payable to the Government would come within the meaning of the expression ope ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rporate debtor for restoration/grant of the electricity connection. The dues of the corporate debtor have to be paid in the manner prescribed in the resolution plan, as approved by the adjudicating authority. The resolution plan is approved when it is in accord with the provision of the Code. Thus, the issue of corporate debtor dues falls within the fold of the phrase arising out of or in relatio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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