https://www.taxtmi.com/caselaws?id=760129 Interim moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016, triggered by a personal guarantor proceeding under Section 95, operates only in relation to the relevant debt and does not extend to unrelated assets or liabilities. On that basis, mortgaged properties standing in the name of a partnership firm were outside the scope of the guarantor's personal moratorium, because the guarantor had no personal ownership interest while the firm subsisted. Dissolution notice did not convert firm-owned assets into personal assets or attract the moratorium to those properties. The overriding effect of the Code and partnership-debt priority provisions did not alter that position, so SARFAESI action and auction notices against the firm's properties could continue. en-us Tue, 15 Oct 2024 00:00:00 +0530 Thu, 17 Oct 2024 09:24:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760129 Interim moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016, triggered by a personal guarantor proceeding under Section 95, operates only in relation to the relevant debt and does not extend to unrelated assets or liabilities. On that basis, mortgaged properties standing in the name of a partnership firm were outside the scope of the guarantor's personal moratorium, because the guarantor had no personal ownership interest while the firm subsisted. Dissolution notice did not convert firm-owned assets into personal assets or attract the moratorium to those properties. The overriding effect of the Code and partnership-debt priority provisions did not alter that position, so SARFAESI action and auction notices against the firm's properties could continue. Case-Laws IBC Tue, 15 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760129