https://www.taxtmi.com/caselaws?id=298459 The National Company Law Tribunal, Chennai, ruled on a case involving a delay in filing a reply affecting the Corporate Insolvency Resolution Process (CIRP) and the creation of an encumbrance during the moratorium period. The Tribunal emphasized that no encumbrance can be created over the property during the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016. Consequently, the Tribunal cancelled the encumbrance created by the Respondent and directed appropriate action to be taken by the Sub Registrar. The Application was closed based on the cancellation of the encumbrance and the legal provisions governing the CIRP and moratorium under the IBC, 2016. en-us Fri, 11 Oct 2019 00:00:00 +0530 Wed, 03 Nov 2021 02:01:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=298459 The National Company Law Tribunal, Chennai, ruled on a case involving a delay in filing a reply affecting the Corporate Insolvency Resolution Process (CIRP) and the creation of an encumbrance during the moratorium period. The Tribunal emphasized that no encumbrance can be created over the property during the moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016. Consequently, the Tribunal cancelled the encumbrance created by the Respondent and directed appropriate action to be taken by the Sub Registrar. The Application was closed based on the cancellation of the encumbrance and the legal provisions governing the CIRP and moratorium under the IBC, 2016. Case-Laws Insolvency and Bankruptcy Fri, 11 Oct 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=298459