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        Case ID :
        Insolvency and Bankruptcy

        CIRP - Home Buyers - Moratorium against the company has been...

        Moratorium Under IBC Doesn't Shield Directors or Officers; Supreme Court Overturns Previous Ruling.

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                          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.
                                CIRP - Home Buyers - Moratorium against the company has been ordered - The Supreme Court's decision in this case clarifies that the moratorium u/s 14 of IBC does not extend to the directors or officers of a company under moratorium. The Court set aside the National Commission's orders, which had held that a decree cannot be executed against a company due to the moratorium u/s 14 of the IBC and, consequently, against certain individuals. The Court remitted the execution application to the National Commission, allowing proceedings against the individual respondents (directors/ officers) for execution, subject to their liability to comply with the order passed against the company.
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