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IBC - Highlights / Catch Notes

Home Highlights July 2023 Year 2023 This

CIRP - Recovery of dues from the Guarantor, while moratorium was ...

Insolvency and Bankruptcy

July 25, 2023

CIRP - Recovery of dues from the Guarantor, while moratorium was decelerated against the corporate debtor - S. 14 and S.31 of the IBC does not bar initiation and continuation of the SARFAESI proceedings against the Guarantor. As such, the bank has not violated the moratorium as ordered by the NCLT, in initiating SARFAESI Proceedings against Petitioner / Guarantor. - HC

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