https://www.taxtmi.com/highlights?id=97748 Section 96 IBC's interim moratorium does not apply to attachment proceedings under the MPID Act because those proceedings are not "in respect of any debt" and the record lacks a debtor-creditor relationship; the MPID regime operates as a public law civil forfeiture aimed at protecting depositors, so its attachment of mala fide transferred property is outside the moratorium and the trial court rightly refused a stay. The MPID Act, being within State List competence, is not repugnant to insolvency law here and its attachment vests property in the State, excluding such assets from the insolvency moratorium; the appeal was dismissed with costs for dilatory prosecution. en-us Mon, 16 Mar 2026 08:42:22 +0530 Mon, 16 Mar 2026 08:42:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=97748 Section 96 IBC's interim moratorium does not apply to attachment proceedings under the MPID Act because those proceedings are not "in respect of any debt" and the record lacks a debtor-creditor relationship; the MPID regime operates as a public law civil forfeiture aimed at protecting depositors, so its attachment of mala fide transferred property is outside the moratorium and the trial court rightly refused a stay. The MPID Act, being within State List competence, is not repugnant to insolvency law here and its attachment vests property in the State, excluding such assets from the insolvency moratorium; the appeal was dismissed with costs for dilatory prosecution. Highlights IBC Mon, 16 Mar 2026 08:42:22 +0530 https://www.taxtmi.com/highlights?id=97748