https://www.taxtmi.com/caselaws?id=421947 The High Court deliberated on whether a public sector undertaking, specifically the Maharashtra State Electricity Distribution Company Limited (MSEDCL), should fund the restructuring proposal of Lavasa Corporation Limited during the corporate insolvency resolution process. The Court highlighted concerns about using public funds and the role of the Committee of Creditors in deciding payments to MSEDCL. It emphasized the importance of timely payments to MSEDCL to avoid disruptions in power supply and directed the Committee of Creditors to reconsider their decision not to pay additional dues promptly. The Court allowed amending the petition to include the Committee of Creditors as a respondent for their involvement in the case. en-us Fri, 29 Apr 2022 00:00:00 +0530 Thu, 05 May 2022 08:34:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421947 The High Court deliberated on whether a public sector undertaking, specifically the Maharashtra State Electricity Distribution Company Limited (MSEDCL), should fund the restructuring proposal of Lavasa Corporation Limited during the corporate insolvency resolution process. The Court highlighted concerns about using public funds and the role of the Committee of Creditors in deciding payments to MSEDCL. It emphasized the importance of timely payments to MSEDCL to avoid disruptions in power supply and directed the Committee of Creditors to reconsider their decision not to pay additional dues promptly. The Court allowed amending the petition to include the Committee of Creditors as a respondent for their involvement in the case. Case-Laws Insolvency and Bankruptcy Fri, 29 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421947