https://www.taxtmi.com/highlights?id=97040 The text addresses the applicability of the moratorium bar on initiating corporate insolvency where the default predated the moratorium, holding the bar inapplicable and a Section 7 application admissible. It clarifies that alleged novation by restructuring did not crystallise due to unmet preconditions and part payments did not discharge the debt, so the adjudicating authority's admission enquiry is limited to existence of financial debt and default. Commercial judgments of the committee of creditors are non-justiciable, and settlement efforts or interim stays cannot obstruct a timely CIRP; specified deposit and guarantee conditions for a temporary stall were vacated. en-us Fri, 20 Feb 2026 12:28:10 +0530 Fri, 20 Feb 2026 12:28:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97040 The text addresses the applicability of the moratorium bar on initiating corporate insolvency where the default predated the moratorium, holding the bar inapplicable and a Section 7 application admissible. It clarifies that alleged novation by restructuring did not crystallise due to unmet preconditions and part payments did not discharge the debt, so the adjudicating authority's admission enquiry is limited to existence of financial debt and default. Commercial judgments of the committee of creditors are non-justiciable, and settlement efforts or interim stays cannot obstruct a timely CIRP; specified deposit and guarantee conditions for a temporary stall were vacated. Highlights IBC Fri, 20 Feb 2026 12:28:10 +0530 https://www.taxtmi.com/highlights?id=97040