Relief to SBI, Lease Dues Incurred During CIRP Prior to Vesting Date are Payable to Financial Creditor: NCLT

In a relief for SBI, the NCLT has ruled that "lease dues incurred during CIRP prior to the vesting date are payable to the financial creditor." This decision clarifies the legal standing of claims made by the EPFO during the corporate insolvency resolution process. The ruling, a significant victory for the government, was made on the grounds that the company's claim was not supported by evidence. The ruling clarifies that a company can be held responsible for the misdeeds of another person.