Section 14 of the Insolvency and Bankruptcy Code, 2016 [“the Code”] proscribes institution of suits or proceedings against the corporate debtor once the adjudicating authority i.e. the National Company Law Tribunal [“NCLT”] admits an application filed under Section 7,9 or 10 of the Code. The objective behind bringing the suit proceedings against the corporate debtor… Continue reading Effect of Moratorium on proceedings initiated by the Corporate Debtor
Tag: IBC
Scope of Inherent Powers of NCLT/NCLAT vis-à-vis Section 12A of IBC
The Insolvency and Bankruptcy Code, 2016 [“IBC”] was enacted to bring the insolvency law in India under a single unified umbrella with the object of speeding up of the insolvency process in a time bound manner. Prior to the introduction of IBC, various other Acts, viz. Sick Industrial Companies (Special Provisions) Act, 1985; the Recovery… Continue reading Scope of Inherent Powers of NCLT/NCLAT vis-à-vis Section 12A of IBC