Supreme Court · 2021 INSC 163 · Decided 8 March 2021
Gujarat Urja Vikas Nigam Limited v. MR. Amit Gupta & ORS.
- Court
- Supreme Court of India
- Citation
- 2021 INSC 163 · [2021] 13 S.C.R. 611
- Case number
- CIVIL APPEAL No. 9241/2019
- Decided
- 8 March 2021
- Bench
- D.Y. CHANDRACHUD, M.R. SHAH (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 60(5); IBC Section 10, 31, 60(5), 61, 238, 60(5)(c)
Headnote
Insolvency and Bankruptcy Code, 2016 - ss. 10, 31, 60(5), 61, 238 - Power Purchase Agreement - Corporate Insolvency Resolution Process - Jurisdiction of NCLT over contractual dispute - The appellant allocated a 25-megawatt capacity to the Corporate Debtor for project - The appellant and the corporate debtor entered into a PPA on 30.04.2010, according to which the appellant was to purchase all the power generated by the corporate debtor - Due to floods and heavy rainfall in 2015 then again in 2017, Plant was severely damaged -
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