https://www.taxtmi.com/caselaws?id=435512 The court dismissed the writ petition challenging the demand notice for recovery of electricity dues from the directors of a corporate debtor, affirming the validity of the notice. It held that the approval of a resolution plan under the Insolvency and Bankruptcy Code does not discharge the personal liability of directors who have provided personal guarantees. The court emphasized the personal liability of directors for corporate debts and clarified that the challenge to the validity of a specific clause in the Electricity Supply Code was not adequately supported in the petition and therefore not entertained. en-us Thu, 12 Jan 2023 00:00:00 +0530 Tue, 21 Mar 2023 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435512 The court dismissed the writ petition challenging the demand notice for recovery of electricity dues from the directors of a corporate debtor, affirming the validity of the notice. It held that the approval of a resolution plan under the Insolvency and Bankruptcy Code does not discharge the personal liability of directors who have provided personal guarantees. The court emphasized the personal liability of directors for corporate debts and clarified that the challenge to the validity of a specific clause in the Electricity Supply Code was not adequately supported in the petition and therefore not entertained. Case-Laws Companies Law Thu, 12 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435512