2023 (1) TMI 457

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.... Ramachandran, Sr. Adv., Ms. Hemantika 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 Shuk....

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....to take advantage of the PPA more specifically 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 ....

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....ent case is going on and therefore, the liquidator should have 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 goi....

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.... Therefore, the physical entity of the Solar Power Project working in conjunction 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 i....