The case involves a petition filed under Article 226 of the Constitution of India seeking a writ of declaration to declare Section 9 of the IBC, 2016 as unconstitutional and void, particularly concerning its application to disputes arising under the Electricity Act, 2003. The petitioner, Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO), is contesting insolvency proceedings initiated against it before the National Company Law Tribunal (NCLT). TANGEDCO argues that as a company substantially owned by the government and governed by the Electricity Act, it should not be subject to the IBC.
Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) filed a petition under Article 226 of the Constitution of India, challenging the applicability of Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to disputes arising under the Electricity Act, 2003. TANGEDCO, a government-owned entity, is facing insolvency proceedings before the National Company Law Tribunal (NCLT) initiated by South India Corporation Private Limited, which claims to be a creditor. TANGEDCO argues that as a generator and distributor of electricity under the aegis of the State Government of Tamil Nadu, it is governed by the Electricity Act, 2003, which should take precedence over the IBC. TANGEDCO also claims to have a counter-claim against the second respondent. The
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R3 (The Union of India)…
Date of the order…
The case involves a petition filed under Article 226 of the Constitution of India seeking a writ of declaration to declare Section 9 of the IBC, 2016 as unconstitutional and void, particularly concerning its application to disputes arising under the Electricity Act, 2003. The petitioner, Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO), is contesting insolvency proceedings initiated against it before the National Company Law Tribunal (NCLT). TANGEDCO argues that as a company substantially owned by the government and governed by the Electricity Act, it should not be subject to the IBC.
Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) filed a petition under Article 226 of the Constitution of India, challenging the applicability of Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to disputes arising under the Electricity Act, 2003. TANGEDCO, a government-owned entity, is facing insolvency proceedings before the National Company Law Tribunal (NCLT) initiated by South India Corporation Private Limited, which claims to be a creditor. TANGEDCO argues that as a generator and distributor of electricity under the aegis of the State Government of Tamil Nadu, it is governed by the Electricity Act, 2003, which should take precedence over the IBC. TANGEDCO also claims to have a counter-claim against the second respondent. The
…R3 (The Union of India)…
Date of the order…