https://www.taxtmi.com/caselaws?id=430858 The Tribunal interpreted Section 96 of the Insolvency and Bankruptcy Code concerning interim moratorium. It clarified that the moratorium applies to existing liabilities, not future ones, and does not stay proceedings under Sections 19(2) and 66-67. Citing the definition of 'debt,' the Tribunal emphasized that the stay is for obligations due at declaration. Referring to a prior ruling, it stressed the need for a cohesive interpretation of the Code. The Tribunal upheld the lower authority's decision, dismissing the appeal and highlighting the importance of aligning interpretations with the Code's objectives. en-us Tue, 29 Nov 2022 00:00:00 +0530 Wed, 30 Nov 2022 07:28:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430858 The Tribunal interpreted Section 96 of the Insolvency and Bankruptcy Code concerning interim moratorium. It clarified that the moratorium applies to existing liabilities, not future ones, and does not stay proceedings under Sections 19(2) and 66-67. Citing the definition of 'debt,' the Tribunal emphasized that the stay is for obligations due at declaration. Referring to a prior ruling, it stressed the need for a cohesive interpretation of the Code. The Tribunal upheld the lower authority's decision, dismissing the appeal and highlighting the importance of aligning interpretations with the Code's objectives. Case-Laws Insolvency and Bankruptcy Tue, 29 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430858