Dues Payable to Secured Creditors are at Higher Footing Than Electricity Dues: Supreme Court [Read Judgment]

By Yogitha S. Yogesh - On July 19, 2023 8:46 pm - 2 mins read
Dues - Payable - Secured - Creditors - Higher - Footing - Electricity - Dues - Supreme - Court - TAXSCAN

The Supreme Court has held that dues payable to secured creditors are at a higher footing than electricity dues and ruled that Section 238 of the Insolvency and Bankruptcy Code overrides the provisions of the Electricity Act, 2003. The appellant Paschimanchal Vidyut Vitran Nigam Limited (“PVVNL”) challenged the order of the National Company Law Appellate…

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