https://www.taxtmi.com/caselaws?id=757638 The interim moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016 stays legal action in respect of the debt from the date of the application and protects the debt itself, not merely the debtor. On that basis, a secured creditor cannot continue SARFAESI enforcement once insolvency proceedings against a personal guarantor commence, even if symbolic possession or other measures under Section 13(4) were taken earlier. The distinction from Section 14 does not alter the effect of Section 96. Continuation of SARFAESI proceedings was therefore barred during the interim moratorium. en-us Wed, 28 Aug 2024 00:00:00 +0530 Thu, 29 Aug 2024 11:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757638 The interim moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016 stays legal action in respect of the debt from the date of the application and protects the debt itself, not merely the debtor. On that basis, a secured creditor cannot continue SARFAESI enforcement once insolvency proceedings against a personal guarantor commence, even if symbolic possession or other measures under Section 13(4) were taken earlier. The distinction from Section 14 does not alter the effect of Section 96. Continuation of SARFAESI proceedings was therefore barred during the interim moratorium. Case-Laws Insolvency and Bankruptcy Wed, 28 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757638