https://www.taxtmi.com/caselaws?id=766628 NCLAT upheld the Adjudicating Authority's order preventing termination of electricity supply to corporate debtor during CIRP. The tribunal held that electricity constitutes essential supply under Section 14(2) IBC read with Regulation 32 of CIRP Regulations, and cannot be discontinued during moratorium period despite non-payment of dues. The resolution professional was directed to endeavor payment of electricity dues through interim finance or other means. IBBI was urged to expedite proposed amendments to Regulation 32 to address operational difficulties faced by essential service suppliers during CIRP proceedings. en-us Mon, 24 Feb 2025 00:00:00 +0530 Sat, 01 Mar 2025 08:25:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766628 NCLAT upheld the Adjudicating Authority's order preventing termination of electricity supply to corporate debtor during CIRP. The tribunal held that electricity constitutes essential supply under Section 14(2) IBC read with Regulation 32 of CIRP Regulations, and cannot be discontinued during moratorium period despite non-payment of dues. The resolution professional was directed to endeavor payment of electricity dues through interim finance or other means. IBBI was urged to expedite proposed amendments to Regulation 32 to address operational difficulties faced by essential service suppliers during CIRP proceedings. Case-Laws IBC Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766628