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Effect of application.

Section 124 - Act - BANKRUPTCY ORDER FOR INDIVIDUALS AND PARTNERSHIP FIRMS - Insolvency and Bankruptcy Code, 2016 - Section 124 - 124. (1) When an application is filed under section 122 or section 123,- (a) an interim-moratorium shall commence on the .....

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any pending legal action or legal proceeding against any property of the debtor in respect of any of his debts shall be deemed to have been stayed; (ii) the creditors of the debtor shall not be entitled to initiate any legal action or legal proceedin .....

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