https://www.taxtmi.com/caselaws?id=408033 The Appellate Tribunal upheld the Adjudicating Authority's decision that electricity charges incurred during the Corporate Insolvency Resolution Process (CIRP) period, for office running and security purposes and not manufacturing, constitute part of CIRP costs. The Tribunal ruled that recovery of such charges is permissible during the resolution plan approval or liquidation, denying the appeal on this issue. Additionally, the Adjudicating Authority's jurisdiction to review its own orders under Rule 11 of the NCLT Rules was confirmed, directing the Appellant to file an appeal if dissatisfied. The interpretation of Section 14 of the Insolvency and Bankruptcy Code regarding moratorium and essential services was clarified, emphasizing the distinction between essential supplies for manufacturing and general operational purposes. en-us Thu, 27 May 2021 00:00:00 +0530 Sat, 29 May 2021 08:30:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408033 The Appellate Tribunal upheld the Adjudicating Authority's decision that electricity charges incurred during the Corporate Insolvency Resolution Process (CIRP) period, for office running and security purposes and not manufacturing, constitute part of CIRP costs. The Tribunal ruled that recovery of such charges is permissible during the resolution plan approval or liquidation, denying the appeal on this issue. Additionally, the Adjudicating Authority's jurisdiction to review its own orders under Rule 11 of the NCLT Rules was confirmed, directing the Appellant to file an appeal if dissatisfied. The interpretation of Section 14 of the Insolvency and Bankruptcy Code regarding moratorium and essential services was clarified, emphasizing the distinction between essential supplies for manufacturing and general operational purposes. Case-Laws Insolvency and Bankruptcy Thu, 27 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408033