https://www.taxtmi.com/caselaws?id=755592 Initiation of insolvency proceedings under Section 95(1) of the Insolvency and Bankruptcy Code triggers an interim moratorium under Section 96, staying legal action and recovery proceedings in respect of the debt, including SARFAESI enforcement against security created by a personal guarantor. The Code's overriding effect under Section 238 prevails over inconsistent enforcement steps, and earlier possession does not justify further action where the sale process remains incomplete. Jurisdictional objections concerning the lending arrangement and the bank's authority may be raised before the Debt Recovery Tribunal under Section 17 of the SARFAESI Act, with no merits finding recorded on those objections. en-us Tue, 02 Jul 2024 00:00:00 +0530 Tue, 16 Jul 2024 08:36:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755592 Initiation of insolvency proceedings under Section 95(1) of the Insolvency and Bankruptcy Code triggers an interim moratorium under Section 96, staying legal action and recovery proceedings in respect of the debt, including SARFAESI enforcement against security created by a personal guarantor. The Code's overriding effect under Section 238 prevails over inconsistent enforcement steps, and earlier possession does not justify further action where the sale process remains incomplete. Jurisdictional objections concerning the lending arrangement and the bank's authority may be raised before the Debt Recovery Tribunal under Section 17 of the SARFAESI Act, with no merits finding recorded on those objections. Case-Laws Indian Laws Tue, 02 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755592