https://www.taxtmi.com/caselaws?id=397445 GRIDCO's unilateral termination of the Power Purchase Agreement (PPA) with the Corporate Debtor was deemed invalid by the Adjudicating Authority for violating Section 14(1) of the Insolvency and Bankruptcy Code, 2016. The termination lacked the required notice and corrective period stipulated in the PPA's terms. The approved Resolution Plan, contingent on the PPA's existence, was upheld by the Appellate Tribunal, rendering GRIDCO's termination unsustainable. Consequently, the appeal by GRIDCO was dismissed, and the PPA was ordered to be restored. en-us Fri, 24 Jul 2020 00:00:00 +0530 Fri, 19 Mar 2021 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397445 GRIDCO's unilateral termination of the Power Purchase Agreement (PPA) with the Corporate Debtor was deemed invalid by the Adjudicating Authority for violating Section 14(1) of the Insolvency and Bankruptcy Code, 2016. The termination lacked the required notice and corrective period stipulated in the PPA's terms. The approved Resolution Plan, contingent on the PPA's existence, was upheld by the Appellate Tribunal, rendering GRIDCO's termination unsustainable. Consequently, the appeal by GRIDCO was dismissed, and the PPA was ordered to be restored. Case-Laws Insolvency and Bankruptcy Fri, 24 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397445