https://www.taxtmi.com/caselaws?id=766629 The HC dismissed a writ petition challenging NCLT's jurisdiction to entertain a company petition under Section 10-A of IBC, 2016. The petitioner argued that the default commenced during the moratorium period (on or after 25.03.2020 for six months), prohibiting CIRP initiation. The HC held that while Section 10-A temporarily suspends CIRP initiation for defaults during the moratorium period, it cannot be extended to cases where default continues beyond the moratorium period. Since the default in this case continued after the moratorium period ended, NCLT had jurisdiction to entertain the petition. The writ petition was dismissed as not maintainable. en-us Thu, 23 Jan 2025 00:00:00 +0530 Sat, 01 Mar 2025 08:25:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766629 The HC dismissed a writ petition challenging NCLT's jurisdiction to entertain a company petition under Section 10-A of IBC, 2016. The petitioner argued that the default commenced during the moratorium period (on or after 25.03.2020 for six months), prohibiting CIRP initiation. The HC held that while Section 10-A temporarily suspends CIRP initiation for defaults during the moratorium period, it cannot be extended to cases where default continues beyond the moratorium period. Since the default in this case continued after the moratorium period ended, NCLT had jurisdiction to entertain the petition. The writ petition was dismissed as not maintainable. Case-Laws IBC Thu, 23 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766629