https://www.taxtmi.com/caselaws?id=797441 Section 96(4) of the Insolvency and Bankruptcy Code applies to pending insolvency applications against personal guarantors to corporate debtors. Inserted to prevent misuse of the interim moratorium for obstructing creditor recovery, the provision operates prospectively on the continuing status of applications pending on its effective date, with quasi-retroactive effect. The phrase "is filed" includes applications filed before the amendment that remained pending. Vacating pre-admission protection does not impair a vested right; it restores creditors' ability to pursue remedies during the pending insolvency process. Consequently, the interim moratorium ceases from the amendment's effective date and does not bar the suit. en-us Wed, 19 Aug 2026 00:00:00 +0530 Sat, 22 Aug 2026 10:33:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797441 Section 96(4) of the Insolvency and Bankruptcy Code applies to pending insolvency applications against personal guarantors to corporate debtors. Inserted to prevent misuse of the interim moratorium for obstructing creditor recovery, the provision operates prospectively on the continuing status of applications pending on its effective date, with quasi-retroactive effect. The phrase "is filed" includes applications filed before the amendment that remained pending. Vacating pre-admission protection does not impair a vested right; it restores creditors' ability to pursue remedies during the pending insolvency process. Consequently, the interim moratorium ceases from the amendment's effective date and does not bar the suit. Case-Laws IBC Wed, 19 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797441