https://www.taxtmi.com/highlights?id=80791 The High Court held that u/s 14(1) of the Insolvency and Bankruptcy Code (IBC), while a moratorium prohibits institution or continuation of suits against the corporate debtor, it does not prohibit the continuation of a counter-claim filed by the corporate debtor. A counter-claim, as defined under the Civil Procedure Code, relates to a cause of action accruing to the defendant against the plaintiff. Therefore, the recordal of evidence should continue regarding the counter-claim filed by the appellant/defendant, but the moratorium will operate against the claim made by the respondent/plaintiff. The appeal was disposed of accordingly. en-us Thu, 29 Aug 2024 08:18:55 +0530 Thu, 29 Aug 2024 08:18:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=80791 The High Court held that u/s 14(1) of the Insolvency and Bankruptcy Code (IBC), while a moratorium prohibits institution or continuation of suits against the corporate debtor, it does not prohibit the continuation of a counter-claim filed by the corporate debtor. A counter-claim, as defined under the Civil Procedure Code, relates to a cause of action accruing to the defendant against the plaintiff. Therefore, the recordal of evidence should continue regarding the counter-claim filed by the appellant/defendant, but the moratorium will operate against the claim made by the respondent/plaintiff. The appeal was disposed of accordingly. Highlights Insolvency and Bankruptcy Thu, 29 Aug 2024 08:18:55 +0530 https://www.taxtmi.com/highlights?id=80791