https://www.taxtmi.com/caselaws?id=284259 Escrow funds deposited for electricity supply during the CIRP period were held to be payable to the electricity board, because the deposit was made under interim Tribunal directions as consideration for restoration of supply. The resolution professional could not use the resolution plan to adjust those sums against alleged pre-admission dues, as the money had already been validly paid for current supply and no subsisting mutual obligations existed to support set-off. The proposed adjustment was rejected and the escrow amount was directed to be released to the electricity board. en-us Mon, 25 Feb 2019 00:00:00 +0530 Fri, 08 Nov 2019 12:06:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284259 Escrow funds deposited for electricity supply during the CIRP period were held to be payable to the electricity board, because the deposit was made under interim Tribunal directions as consideration for restoration of supply. The resolution professional could not use the resolution plan to adjust those sums against alleged pre-admission dues, as the money had already been validly paid for current supply and no subsisting mutual obligations existed to support set-off. The proposed adjustment was rejected and the escrow amount was directed to be released to the electricity board. Case-Laws Insolvency and Bankruptcy Mon, 25 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284259