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of <h1>Interim Moratorium Halts Actions Against Debtor's Property Under Sections 122/123 of Insolvency and Bankruptcy Code</h1> When an application is filed under sections 122 or 123 of the Insolvency and Bankruptcy Code, 2016, an interim moratorium begins, halting all actions against the debtor's properties regarding debts until the bankruptcy commencement date. During this period, any ongoing legal actions against the debtor's property are stayed, and creditors cannot initiate new legal proceedings. If the application concerns a partnership firm, the moratorium applies to all partners. Certain transactions, as notified by the Central Government in consultation with financial regulators, are exempt from these provisions. These provisions took effect on December 1, 2019.
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