https://www.taxtmi.com/caselaws?id=427198 The Tribunal upheld the Adjudicating Authority's direction for the Resolution Professional to pay outstanding electricity dues within 90 days during the Corporate Insolvency Resolution Process (CIRP). It emphasized that essential services, like electricity supply, must be maintained for the Corporate Debtor's value. The Tribunal clarified that under Section 14(2-A) of the Insolvency and Bankruptcy Code, payment for essential supplies during the moratorium period is mandatory. The Appeal was dismissed, affirming the obligation for the Corporate Debtor to pay dues for continued essential services. en-us Fri, 02 Sep 2022 00:00:00 +0530 Sat, 03 Sep 2022 08:06:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427198 The Tribunal upheld the Adjudicating Authority's direction for the Resolution Professional to pay outstanding electricity dues within 90 days during the Corporate Insolvency Resolution Process (CIRP). It emphasized that essential services, like electricity supply, must be maintained for the Corporate Debtor's value. The Tribunal clarified that under Section 14(2-A) of the Insolvency and Bankruptcy Code, payment for essential supplies during the moratorium period is mandatory. The Appeal was dismissed, affirming the obligation for the Corporate Debtor to pay dues for continued essential services. Case-Laws Insolvency and Bankruptcy Fri, 02 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427198