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of <h1>Moratorium Under IBC Section 14 Halts Legal Actions During Insolvency Process, Ensures Essential Services Continue for Debtor</h1> The declaration of moratorium under Section 14 of the Insolvency and Bankruptcy Code (IBC) provides a temporary suspension of legal actions against a corporate debtor during the Corporate Insolvency Resolution Process (CIRP). This period halts suits, proceedings, asset transfers, and recovery actions to facilitate the resolution process. Essential services must continue to be provided to the debtor, maintaining its status as a going concern. The moratorium does not apply to certain transactions or guarantees. It ceases upon approval of a resolution plan or liquidation order. Key case laws illustrate the application and exceptions of the moratorium provisions.
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