NCLT/NCLAT can exercise jurisdiction under Section 60(6)(c) of IBC, 2016

Judgment1 dated 8th March, 2021 of the Hon’ble Supreme Court of India in the matter of Gujarat Urja Vikas Nigam Limited Vs. Mr. Amit Gupta & Ors. [Civil Appeal No. 9241 of 2019] While holding that (i) The NCLT/NCLAT can exercise jurisdiction under section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016 (Code) to stay termination of contracts solely on account of Corporate Insolvency Resolution Process (CIRP) being initiated against the Corporate Debtor (CD), and (ii) The NCLT/NCLAT correctly stayed the termination of the Power Purchase Agreement (PPA), since allowing it to terminate...