The NCLAT Chennai bench of Justice Rakesh Kumar Jain (Judicial Member) and Mr. Ajai Das Mehrotra (Technical Member) 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. Any amount due to the corporate debtor can be recovered by filing claims before the IRP/RP as the case may be.
Brief Facts
The present appeal has been filed by the Central Transmission Utility of India Limited (earlier Power Grid Corporation of India) against an order passed by NCLT Hyderabad.
KSK Mahanadi Power Company Limited (hereinafter called the ‘Corporate Debtor or CD’) is a company engaged in business of power generation. The Corporate Debtor was …
