Electricity falls under Essential Service which must not be restrict during CIRP Period: NCLAT

The National Company Law Appellate Tribunal (NCLAT) has ruled that electricity is an essential service and must not be restricted during the Corporate Insolvency Resolution Process (CIRP). This decision emphasizes that access to essential services like electricity should continue uninterrupted to ensure the smooth operation of companies undergoing insolvency proceedings. The tribunal's ruling aims to protect the operational continuity of companies in distress, recognizing the critical nature of electricity for their functioning. The order aligns with the principles of ensuring that companies can carry out their essential activities even while undergoing financial restructuring.