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of <h1>Steps for Declaring Moratorium and Public Announcement in Corporate Insolvency Under IBC: Key Procedures Explained</h1> The the procedure for declaring a moratorium and making a public announcement during the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code (IBC). Upon admission of an application, the Adjudicating Authority must declare a moratorium, make a public announcement, and appoint an interim resolution professional. The public announcement, to be made within three days of the professional's appointment, must be published in specified newspapers and websites, detailing claim submission procedures and deadlines. The applicant initially bears the announcement costs, which may be reimbursed by the committee.
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