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SUPREME COURT REITERATES PRINCIPLES OF STATUTORY BAR ON LEGAL PROCEEDINGS AGAINST DEBTOR DURING MORATORIUM

The #SupremeCourt has in a recent case of P. Mohanraj and Others vs M/S Shah Brothers Ispat Pvt Ltd passed a Judgment dated 01-03-2021 regarding whether institution or continuation of proceedings under Section 138/141 of the #NegotiableInstruments Act 1881 (the NI Act) against a corporate debtor is barred by moratorium declared by National Company Law Tribunal #NCLTT) under Section 14 of the #InsolvencyandBankruptcyCode 2016 (the Code).


To read more, please visit the link below:


https://theindianlawyer.in/supreme-court-reiterates-principles-of-statutory-bar-on-legal-proceedings-against-debtor-during-moratorium/


#moratorium #insolvencyandbankruptcy #supremecourtofindia #supremecourt #ibc2021 #nclt #nclat

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