https://www.taxtmi.com/caselaws?id=303916 Once moratorium under the Insolvency and Bankruptcy Code, 2016 commenced, the auction sale of the corporate debtor's secured assets could not be completed by accepting the balance consideration, because the sale had not been concluded before the insolvency commencement date and the assets continued to stand in the corporate debtor's name. The moratorium barred further transfer or enforcement steps against those assets, and the setting aside of the sale was upheld. In that framework, the Code prevailed over any inconsistent SARFAESI action, so the creditor could not rely on SARFAESI remedies to complete realisation during moratorium. en-us Fri, 26 Mar 2021 00:00:00 +0530 Wed, 24 Aug 2022 22:29:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303916 Once moratorium under the Insolvency and Bankruptcy Code, 2016 commenced, the auction sale of the corporate debtor's secured assets could not be completed by accepting the balance consideration, because the sale had not been concluded before the insolvency commencement date and the assets continued to stand in the corporate debtor's name. The moratorium barred further transfer or enforcement steps against those assets, and the setting aside of the sale was upheld. In that framework, the Code prevailed over any inconsistent SARFAESI action, so the creditor could not rely on SARFAESI remedies to complete realisation during moratorium. Case-Laws Insolvency and Bankruptcy Fri, 26 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303916