Corporate Debtor's Appeal Rejected: Liquidated Damages Deductions Upheld Based on Original Contract Terms and Purchase Order Provisions

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....NCLAT dismissed the appeal challenging liquidated damages deduction from corporate debtor's invoices. The Appellate Tribunal held that liquidated damages deducted during contract performance per purchase order terms remain valid, and the approved resolution plan does not retrospectively invalidate such deductions. The tribunal affirmed the Adjudicating Authority's decision, emphasizing that contract terms prevail and no refund is mandated for damages legitimately assessed during contract execution, even after corporate insolvency resolution process initiation.....