https://www.taxtmi.com/caselaws?id=764571 NCLAT dismissed appeal regarding liability for pre-CIRP electricity dues of corporate debtor. Tribunal held that pre-CIRP dues must be addressed through liquidation process under IBC waterfall mechanism per Section 53, not by imposing liability on auction purchasers. SC precedents in Paschimanchal Vidyut and Tata Power cases established that corporate debtor's dues fall under "arising out of or in relation to insolvency resolution" under Section 60(5)(c). K.C. Ninan judgment distinguished as not applicable to liquidation proceedings. Adjudicating Authority's decision upheld. en-us Mon, 06 Jan 2025 00:00:00 +0530 Mon, 13 Jan 2025 17:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764571 NCLAT dismissed appeal regarding liability for pre-CIRP electricity dues of corporate debtor. Tribunal held that pre-CIRP dues must be addressed through liquidation process under IBC waterfall mechanism per Section 53, not by imposing liability on auction purchasers. SC precedents in Paschimanchal Vidyut and Tata Power cases established that corporate debtor's dues fall under "arising out of or in relation to insolvency resolution" under Section 60(5)(c). K.C. Ninan judgment distinguished as not applicable to liquidation proceedings. Adjudicating Authority's decision upheld. Case-Laws IBC Mon, 06 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764571