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Supreme Court of India

Paschimanchal Vidyut Vitran Nigam Ltd. v. Raman Ispat Private Limited & Ors.

Neutral citation
Reported as [2023] 10 S.C.R. 1221
Bench S. Ravindra Bhat and Dipankar Datta JJ.
Decided 17 July 2023

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

What the Court ordered

For the above reasons, it is held that the appeal de serves to fail.

Judgment, page 47

From the headnote

Insolvency and Bankruptcy Code, 2016 – ss.238, 53 – Overriding effect of s.238 – Distribution of assets u/s.53 – Dues payable to secured creditors vis-à-vis Central or State Government– Held: s.238, IBC overrides the provisions of the Electri city Act, 2003 despite the latter containing two specific provisio ns which open with non-obstante clauses (ss.173 and 174) – Provisions of the IBC treat the dues payable to secured creditors at a higher footing than dues payable to Central or State Government– Electricity Act, 2003 – ss.173, 174. Insolvency and Bankruptcy Code, 2016 – s.53(1)(a)-( f) –

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