https://www.taxtmi.com/highlights?id=67314 CIRP - Seeking appointment of a sole arbitrator for the resolution of disputes between the parties - The purpose and rationale behind granting a moratorium is to ensure that the assets of the corporate debtor are protected, with an intention to keep the company a going concern and to use the period to strengthen its financial position. It means, the intent of the order of the NCLAT is to protect the assets of IL&FS and its group companies in order to make the resolution process effective/purposeful. - Since, the matter is pending before the Supreme Court and there is no stay of the NCLAT order - HC en-us Sat, 24 Dec 2022 13:40:10 +0530 Sat, 24 Dec 2022 13:40:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=67314 CIRP - Seeking appointment of a sole arbitrator for the resolution of disputes between the parties - The purpose and rationale behind granting a moratorium is to ensure that the assets of the corporate debtor are protected, with an intention to keep the company a going concern and to use the period to strengthen its financial position. It means, the intent of the order of the NCLAT is to protect the assets of IL&FS and its group companies in order to make the resolution process effective/purposeful. - Since, the matter is pending before the Supreme Court and there is no stay of the NCLAT order - HC Highlights Insolvency and Bankruptcy Sat, 24 Dec 2022 13:40:10 +0530 https://www.taxtmi.com/highlights?id=67314