GUJARAT URJA VIKAS NIGAM LIMITED vs AMIT GUPTA

The Supreme Court addressed the appeal concerning the termination of a Power Purchase Agreement (PPA) by Gujarat Urja Vikas Nigam Limited. The court examined the jurisdiction of the National Company Law Tribunal (NCLT) and the validity of ipso facto clauses in the context of insolvency proceedings. Ultimately, the court upheld the NCLT's decision to stay the termination of the PPA, emphasizing the need for adherence to the statutory framework governing insolvency.