Whether when Auction on “As where is, as is what is and whatever there is basis”, Successful Auction Purchaser is liable to clear pre-CIRP electricity dues? – Uttarakhand Power Corporation Ltd. (UPCL) Vs. Shyam Baba Developers & Builders Pvt. Ltd. and Anr. – NCLAT New Delhi
In this case, Learned Counsel for the Appellant submits that the e-Auction in which the Respondent No. 1 declared Successful Auction Purchaser was “as where is, as is what is and whatever there is basis”. When the Auction is on the above conditions which was reflected in the e-Auction notice, Successful Auction Purchaser is liable to clear all liabilities and electricity dues.