2023 (1) TMI 457

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....ika Wahi, AOR, Ms. Jesal Wahi, Adv. And Ms. Srishti Khindaria, Adv. For the Respondent(s) : Mr. C.U. Singh, Sr. Adv., Mr. Yogendra Aldak, Adv., Ms. Vaishali Goyal, Adv., Ms. Bhavya Shukla, Adv., Mr. Punit Dutt Tyagi, AOR, Mr. C.U. Singh, Sr. adv., Mr. Amjid Maqbool, Adv., Mr. Z. M. John, Adv., Mr. Yogendra Aldak, Adv., Ms. Vaishali Goyal, Adv., Ms. Bhavya Shukla, Adv. And Ms. Charanya Lakshmikuma....

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....Clause 9.2.1(e) to terminate the PPA which resulted in a challenge being laid by respondent No. 1 to the same before the NCLT. The respondent No. 1 has succeeded both before the NCLT and NCLAT which orders are sought to be assailed in a Second Appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016, (for short, the Code") the appeal being maintainable on a question of law. Learned cou....

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....ve full access to all assets of the corporate debtor to take meaningful steps for revival of the corporate debtor as going concern. In the present case, since the power producer has not suspended the supply of solar power and is willing to do the same, it stands to reason that the solar power project should be allowed to function as a going concern, so that revival of the power project as suggeste....

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....unction with the PPA becomes necessary for maximization of the value of assets. This is especially true since the power producer is willing to generate and supply power and also in a position to do so to the GUVNL. Hence, the termination of PPA does not appear to be justified. The impugned order, therefore, suffers from no infirmity and we don't find cogent reasons for accepting the appeal. The ap....