Supreme Court · 2023 INSC 625 · Decided 17 July 2023
Paschimanchal Vidyut Vitran Nigam LTD. v. Raman Ispat Private Limited & ORS.
- Court
- Supreme Court of India
- Citation
- 2023 INSC 625 · [2023] 10 S.C.R. 1221
- Case number
- CIVIL APPEAL No. 7976/2019
- Decided
- 17 July 2023
- Bench
- S. RAVINDRA BHAT, DIPANKAR DATTA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 265; Companies Act Section 77, 78, 3(31); IBC Section 238, 53, 53(1)(a), 52, 53(1)(e), 53(1)(f); Electricity Act Section 173, 174, 50, 56, 181(2)(x)
Headnote
Insolvency and Bankruptcy Code, 2016 - ss.238, 53 - Overriding effect of s.238 - Distribution of assets u/s.53 - Dues payable to secured creditors vis-à-vis Central or State Government- Held: s.238, IBC overrides the provisions of the Electricity Act, 2003 provisions which open with non-obstante clauses (ss.173 and 174) - Provisions of the IBC treat the dues payable to secured creditors at a higher footing than dues payable to Central or State Government- Electricity Act, 2003 - ss.173, 174. Insolvency and Bankruptcy Code,
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)