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The High Court object of the moratorium is merely to postpone civil debt enforcement and not to shield an accused from criminal accountability arising out of dishonour of cheques.
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Although the respondent acknowledged execution of works, instalments under the Vendor Settlement Agreement remained unpaid. With repeated acknowledgments of inability to pay and only the first tranche settled, default was established under Section 9 of the Insolvency and Bankruptcy Code, 2016.
The power envisaged under Section 34(4)(b) of the IBC is a power to recommend the replacement of the particular Resolution Professional on facts specific to that individual and is not a general power that could be exercised by the IBBI for issuing the Circular.
National Company Law Tribunal | In an application filed under S. 60(5) of the Insolvency and Bankruptcy Code, 2016, a
Calcutta High Court | While awarding the injunction, Sabyasachi Bhattacharyya, J. restrained the Enforcement Directorate from giving effect to the impugned order