TMI Blog2017 (10) TMI 856X X X X Extracts X X X X X X X X Extracts X X X X ..... anel or other authority come within the purview of ‘moratorium. The said provision specifically do not exclude any Court, including the Hon’ble High Courts or Hon’ble Supreme Court of India. There is no provision to file any money suit or suit for recovery before the Hon’ble Supreme Court except under Article 131 of the Constitution of India where dispute between Government of India and one or more States or between the Government of India and any State or States on one side and one or two or more States is filed. Some High Courts have original jurisdiction to entertain the suits, which may include money suit or suit for recovery of money. The Hon’ble Supreme Court has power under Article 32 of the Constitution of India and Hon’ble H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wing Moratorium by prohibiting the following actions: - i) The institution of suits or continuation of pending suits or proceedings except before the Hon ble High Court (s) and Hon ble Supreme Court of India, against the Corporate Debtor including execution of any judgement, decree or order in any court of law, Tribunal, arbitration panel or other authority; ii) Transferring, encumbering, alienating or disposing of by the Corporate Debtor any of its assets or any legal right or beneficial interest therein; iii) Any action to foreclose, recover or enforce any security interest created by the Corporate Debtor in respect of its property including any action under Securitization and Reconstruction of Financial Assets and Enfor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of notice, none appeared on behalf of the Respondent. 4. We have heard Ld. Counsel for the Appellant and perused the provisions of I B Code. 5. Section 14 relate to Moratorium which the Adjudicating Authority is required to declare at the time of admission of the application for corporate insolvency resolution process , which reads as follows:- 14. Moratorium - ( 1) Subject to provisions of sub-sections (2) and (3), on the insolvency commencement date, the Adjudicating Authority shall by order declare moratorium for prohibiting all of the following, namely:- (a) the institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6. From clause (a) of sub-Section (1) of Section 14, it is clear that institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order by any court of law, tribunal, arbitration panel or other authority come within the purview of moratorium. The said provision specifically do not exclude any Court, including the Hon ble High Courts or Hon ble Supreme Court of India. 7. There is no provision to file any money suit or suit for recovery before the Hon ble Supreme Court except under Article 131 of the Constitution of India where dispute between Government of India and one or more States or between the Government of India and any State or States on one ..... X X X X Extracts X X X X X X X X Extracts X X X X
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