Moratorium in pre pack insolvency protects the debtor while a resolution professional is appointed and public announcement issued. A moratorium is declared on commencement of the pre packaged insolvency resolution process, effective from the order date until the pre pack period ends; the Adjudicating Authority appoints the resolution professional-preferably the one named in the application unless a disciplinary proceeding is pending, in which case appointment follows the Board's recommendation-and the resolution professional must immediately make the prescribed public announcement of initiation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Moratorium in pre pack insolvency protects the debtor while a resolution professional is appointed and public announcement issued.
A moratorium is declared on commencement of the pre packaged insolvency resolution process, effective from the order date until the pre pack period ends; the Adjudicating Authority appoints the resolution professional-preferably the one named in the application unless a disciplinary proceeding is pending, in which case appointment follows the Board's recommendation-and the resolution professional must immediately make the prescribed public announcement of initiation.
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