Section 31 in Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017
31. Essential supplies.
- The essential goods and services referred to in section 14(2) shall mean-(a)electricity;(b)water;(c)telecommunication services; and(d)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.
