The Insolvency and Bankruptcy Code, 2016
IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016
Chapter-IX Insolvency Resolution Process Costs
Regulation 32: Essential supplies.
32. The essential goods and services referred to in section 14(2) shall mean-
(1) electricity;
(2) water;
(3) telecommunication services; and
(4) information technology services,
to the extent these are not a direct input to the output produced or supplied by the corporate debtor.
Illustration- Water supplied to a corporate debtor will be essential supplies for drinking and sanitation purposes, and not for generation of hydro-electricity.
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