The Ahmedabad bench of the National Company Law Tribunal (NCLT) has held that a subsequent purchaser could not invoke its insolvency jurisdiction over an electricity dues dispute that arose after completion of the insolvency process and transfer of the property.
The bench comprising Judicial Member Shammi Khan and Technical Member Sanjeev Sharma observed, “The declaration sought regarding all dues of the Corporate Debtor is also beyond the scope of the jurisdiction invoked, particularly when the Applicant was not a participant in the CIRP and the present dispute arose after transfer of the property. The finality attached to the Resolution Plan cannot itself constitute a source of jurisdiction under Section 60(5)(c) in favour of a…