https://www.taxtmi.com/caselaws?id=200066 A moratorium under the Insolvency and Bankruptcy Code barred continuation of parallel recovery proceedings against a corporate debtor's guarantors and mortgagors before the Debt Recovery Tribunal. The insolvency regime's overriding effect, together with the scheme of Sections 14, 31, 33 and 60, was treated as preventing split proceedings on the same cause of action once the corporate insolvency resolution process had begun. In these circumstances, the pending DRT proceedings could not continue and were stayed until completion of the insolvency process, approval of a resolution plan, or liquidation, as applicable. en-us Wed, 06 Sep 2017 00:00:00 +0530 Mon, 19 Mar 2018 13:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200066 A moratorium under the Insolvency and Bankruptcy Code barred continuation of parallel recovery proceedings against a corporate debtor's guarantors and mortgagors before the Debt Recovery Tribunal. The insolvency regime's overriding effect, together with the scheme of Sections 14, 31, 33 and 60, was treated as preventing split proceedings on the same cause of action once the corporate insolvency resolution process had begun. In these circumstances, the pending DRT proceedings could not continue and were stayed until completion of the insolvency process, approval of a resolution plan, or liquidation, as applicable. Case-Laws Insolvency and Bankruptcy Wed, 06 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200066