NCLT Empowered to Decide Whether Successful Resolution Applicant is Liable to Pay Pre-CIRP Electricity Dues u/s 60(5) of IBC: NCLAT

The NCLAT has ruled that the NCLT is empowered to decide whether a successful resolution applicant is liable to pay pre-CIRP electricity dues under Section 60(5) of the IBC. This decision clarifies the authority of adjudicating bodies in insolvency cases. It ensures that dues are properly addressed. This ruling underscores the need for clear guidelines on pre-CIRP dues. It emphasizes the importance of fair assessments. The NCLAT's order reinforces legal procedures.