https://www.taxtmi.com/caselaws?id=755165 NCLAT Principal Bench ruled in favor of appellant who purchased assets during CIRP liquidation proceedings. The electricity board demanded past dues from the corporate debtor, but the tribunal held that purchasers of liquidated assets cannot be burdened with previous unpaid liabilities. Following precedent from Paschimanchal Vidyut Vitram Nigam Ltd., the court determined past dues cannot be claimed for new electricity connections. The tribunal distinguished the Telangana State Southern Power Distribution case and set aside the adjudicating authority's dismissal order, allowing the appeal without costs. en-us Tue, 02 Jul 2024 00:00:00 +0530 Sun, 07 Jul 2024 18:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755165 NCLAT Principal Bench ruled in favor of appellant who purchased assets during CIRP liquidation proceedings. The electricity board demanded past dues from the corporate debtor, but the tribunal held that purchasers of liquidated assets cannot be burdened with previous unpaid liabilities. Following precedent from Paschimanchal Vidyut Vitram Nigam Ltd., the court determined past dues cannot be claimed for new electricity connections. The tribunal distinguished the Telangana State Southern Power Distribution case and set aside the adjudicating authority's dismissal order, allowing the appeal without costs. Case-Laws Insolvency and Bankruptcy Tue, 02 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755165