NCLAT holds No Pre-CIRP can be Recovered After Admission of Corporate Debtor Into Insolvency

The Chennai bench of the National Company Law Appellate Tribunal ( NCLAT ) has held that pre-CIRP dues cannot be recovered once the corporate debtor is admitted into insolvency due to moratorium under section 14 of the code. The Central Transmission Utility of India Limited challenged an order passed by NCLT Hyderabad. KSK Mahanadi Power Company…