https://www.taxtmi.com/caselaws?id=788760 The interim moratorium under the Insolvency and Bankruptcy Code did not stay proceedings to make absolute attachment of properties under the Maharashtra Protection of Interest of Depositors Act, because those attachment proceedings were directed at protecting depositors and did not arise from a debtor-creditor debt owed to the State. The Code's moratorium therefore had no application to the MPID process. The Code also did not override the MPID Act on repugnancy grounds, as the two statutes operate in distinct legislative fields: the MPID Act in the State List and the Insolvency and Bankruptcy Code in the Concurrent List. Accordingly, no inconsistency arose to displace the State law. en-us Tue, 10 Mar 2026 00:00:00 +0530 Fri, 27 Mar 2026 09:21:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=788760 The interim moratorium under the Insolvency and Bankruptcy Code did not stay proceedings to make absolute attachment of properties under the Maharashtra Protection of Interest of Depositors Act, because those attachment proceedings were directed at protecting depositors and did not arise from a debtor-creditor debt owed to the State. The Code's moratorium therefore had no application to the MPID process. The Code also did not override the MPID Act on repugnancy grounds, as the two statutes operate in distinct legislative fields: the MPID Act in the State List and the Insolvency and Bankruptcy Code in the Concurrent List. Accordingly, no inconsistency arose to displace the State law. Case-Laws IBC Tue, 10 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=788760