https://www.taxtmi.com/caselaws?id=446572 A successful auction purchaser of a liquidated asset may invoke section 60(5) of the Insolvency and Bankruptcy Code, 2016 where the dispute over a fresh electricity connection arises from the liquidation process. The tribunal treated the application as maintainable because the relief sought had a direct nexus with liquidation and was not barred by functus officio. It further held that pre-CIRP electricity dues of the corporate debtor must be dealt with in the insolvency process and cannot be demanded from the auction purchaser as a condition for a new connection. The distribution company's failure to file its claim in liquidation prevented it from bypassing the statutory insolvency framework. en-us Tue, 05 Dec 2023 00:00:00 +0530 Wed, 06 Dec 2023 17:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446572 A successful auction purchaser of a liquidated asset may invoke section 60(5) of the Insolvency and Bankruptcy Code, 2016 where the dispute over a fresh electricity connection arises from the liquidation process. The tribunal treated the application as maintainable because the relief sought had a direct nexus with liquidation and was not barred by functus officio. It further held that pre-CIRP electricity dues of the corporate debtor must be dealt with in the insolvency process and cannot be demanded from the auction purchaser as a condition for a new connection. The distribution company's failure to file its claim in liquidation prevented it from bypassing the statutory insolvency framework. Case-Laws Insolvency and Bankruptcy Tue, 05 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446572