2022 (5) TMI 207

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....cate a/w Mr. Kiran Gandhi, Mr. Aakash Kothari and Ms Revati Desai i/b Little and Co. for petitioner. Mr. Ashish Kamat a/w Mr. Ameya Gokhale, Ms Salonee Kulkarni and Ms Kriti Kalyani i/b Shardul Amarchand Mangaldas & Co. for Respondent no.3. Mr. Pradeep Sancheti , Sr. Adv. a/w Mr. Pulkit Sharma and Mr. Shriraj Khambete i/b Saraf & Partners for CoC.   P.C.: 1. We have spent enough t....

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....g corporate insolvency resolution process (CIRP). 2. Mr.Kamat appearing for respondent no.3 submitted (without prejudice to rights and contentions) that for the period prior to CIRP, 'MSEDCL' is treated as an operational creditor and the period after beginning of CIRP, 'MSEDCL' is being paid about Rs. 25 lakhs per month to keep power supply going on to Lavasa. Mr. Andhyarujina submitted that it....

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....rejected? 3. What we have to keep in mind is 'MSEDCL' for a period prior to CIRP is being treated as an operational creditor and it is COC who will decide how much 'MSEDCL' should be paid from the amount recovered from sale of Lavasa Corporation. Therefore, it is COC represented by Mr. Sancheti who will be getting most of the money and COC expects 'MSEDCL' to supply electricity to Lavasa Corpor....

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....nd any loss that 'MSEDCL' may suffer is going to be passed on to the consumers, who are the general public of Maharashtra State. 6. Mr. Sancheti states that during a meeting held on 22.4.2022, COC has decided not to pay anything more to 'MSEDCL' but at the same time, Mr. Sancheti assures this Court that he will try his best to make an effort to speak to members of the COC and find out if they w....