https://www.taxtmi.com/caselaws?id=405012 The NCLT/NCLAT has jurisdiction under Section 60(5)(c) of the IBC to adjudicate disputes related to insolvency resolution processes. The court upheld the stay on terminating the PPA, emphasizing the importance of preserving the Corporate Debtor as a 'going concern.' The validity of ipso facto clauses remains open for legislative intervention, with the court recognizing the need for clarity on this issue. The NCLAT's consideration of the liquidation issue was deemed beyond its jurisdiction, and the appellant was held liable to pay for electricity post-termination reversal. The appeal was dismissed, and relevant applications were resolved. en-us Mon, 08 Mar 2021 00:00:00 +0530 Sat, 07 May 2022 17:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405012 The NCLT/NCLAT has jurisdiction under Section 60(5)(c) of the IBC to adjudicate disputes related to insolvency resolution processes. The court upheld the stay on terminating the PPA, emphasizing the importance of preserving the Corporate Debtor as a 'going concern.' The validity of ipso facto clauses remains open for legislative intervention, with the court recognizing the need for clarity on this issue. The NCLAT's consideration of the liquidation issue was deemed beyond its jurisdiction, and the appellant was held liable to pay for electricity post-termination reversal. The appeal was dismissed, and relevant applications were resolved. Case-Laws Insolvency and Bankruptcy Mon, 08 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405012