Prayer for immediate restoration of the petitioner’s electricity ...
Insolvency and Bankruptcy
May 5, 2022
Prayer for immediate restoration of the petitioner’s electricity supply - Section 238 of the IBC - dues of electricity supply to be cleared - This is not a case of ouster of the powers of the licensee conferred by the 2003 Act. Even if such powers under Section 56 of the 2003 Act remain intact, those become illusory in view of the dues themselves having been extinguished on the approval of the Resolution Plan, by independent operation of the IBC. - HC
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