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of <h1>S.7 IBC petition held unmaintainable as alleged default date fell within moratorium; s.62 found no substantial question</h1> The SC held the financial creditor's s.7 IBC application was not maintainable because the stated date of default (22.02.2021) fell within the moratorium ... Maintainability of application filed u/s 7 of the IBC by the Financial Creditor - it was held by NCLAT that 'The law regarding applicability of Section 10A of the Code is well settled that no application can ever be filed for initiation of CIRP for the default occurring during the period between 25.03.2020 to 25.03.2021 whereas the date of default has specifically been mentioned in Part IV of the application as 22.02.2021 which falls within the aforesaid two cutoff dates.' HELD THAT:- No substantial question of law under Section 62 of the Insolvency and Bankruptcy Code 2016 is raised. Appeal dismissed. The Supreme Court reviewed an appeal under the Insolvency and Bankruptcy Code, 2016 and held that 'No substantial question of law under Section 62 of the Insolvency and Bankruptcy Code 2016 is raised.' On that basis the court concluded that there was no substantive legal issue warranting interference and accordingly 'The appeal is accordingly dismissed.' The court also ordered that 'Pending application, if any, stands disposed of.' The decision rests on the threshold determination that Section 62 did not present a substantial question of law in the matter, eliminating the need for further adjudication on the merits.
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