https://www.taxtmi.com/caselaws?id=751686 NCLAT set aside the admission of Section 9 application filed by operational creditor, holding it was barred under Section 10A of IBC. The tribunal found that despite the adjudicating authority recognizing the claim fell within the Section 10A prohibition period (25.03.2020 to 24.03.2021), it erroneously admitted the application. The default pertained to lease rentals from March 2020 to April 2021, with majority falling within the moratorium period. NCLAT ruled that Section 10A creates an absolute bar on filing applications for defaults during the specified period, regardless of corporate debtor's failure to raise the plea. The corporate debtor was freed from CIRP, and operational creditor was directed to pay IRP fees of Rs.2,00,000. en-us Thu, 18 Apr 2024 00:00:00 +0530 Mon, 22 Apr 2024 11:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751686 NCLAT set aside the admission of Section 9 application filed by operational creditor, holding it was barred under Section 10A of IBC. The tribunal found that despite the adjudicating authority recognizing the claim fell within the Section 10A prohibition period (25.03.2020 to 24.03.2021), it erroneously admitted the application. The default pertained to lease rentals from March 2020 to April 2021, with majority falling within the moratorium period. NCLAT ruled that Section 10A creates an absolute bar on filing applications for defaults during the specified period, regardless of corporate debtor's failure to raise the plea. The corporate debtor was freed from CIRP, and operational creditor was directed to pay IRP fees of Rs.2,00,000. Case-Laws Insolvency and Bankruptcy Thu, 18 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751686