While affirming the view of the Appellate Tribunal for Electricity, the Supreme Court held that the Electricity Board would not have to indemnify if there was no provision regarding compensation of full fixed charges and actual variable charges in respect of short supply of energy in the Power Purchase Agreement. A Bench of Justices Ajay Rastogi and CT Ravikumar was …
On March 8, 2021, Hon'ble Supreme Court delivered a judgement highlighting the need for the Legislature to provide clarity on the validity of ipso facto clauses in India in the context of insolvency laws. Such ipso facto clauses become a contentious legal issue in light of the two opposing considerations – on one hand, upholding ipso facto clauses make the …
