TaxTMI 
TaxTMI 
2017 (10) TMI 856
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.... under section 7 of the Insolvency & Bankruptcy Code, 2016 (hereinafter referred to as I&B Code), passed order of moratorium, relevant portion of which reads as follows: - "(c) We hereby declared the following Moratorium by prohibiting the following actions: - i) The institution of suits or continuation of pending suits or proceedings except before the Hon'ble High Court (s) and Hon'ble Supreme Court of India, against the Corporate Debtor including execution of any judgement, decree or order in any court of law, Tribunal, arbitration panel or other authority; ii) Transferring, encumbering, alienating or disposing of by the Corporate Debtor any of its assets or any legal right or beneficial interest therein; iii) Any action to for....
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.... the Hon'ble High Courts and Hon'ble Supreme Court of India against a 'corporate debtor'. 3. Notice was issued to the Respondent limited to the aforesaid question. But in spite of service of notice, none appeared on behalf of the Respondent. 4. We have heard Ld. Counsel for the Appellant and perused the provisions of I&B Code. 5. Section 14 relate to 'Moratorium' which the Adjudicating Authority is required to declare at the time of admission of the application for 'corporate insolvency resolution process', which reads as follows:- "14. Moratorium - (1) Subject to provisions of sub-sections (2) and (3), on the insolvency commencement date, the Adjudicating Authority shall by order declare moratorium for prohibiting all of the following....
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.... of corporate debtor under section 33, the moratorium shall cease to have effect from the date of such approval or liquidation order, as the case may be." 6. From clause (a) of sub-Section (1) of Section 14, it is clear that institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order by any court of law, tribunal, arbitration panel or other authority come within the purview of 'moratorium. The said provision specifically do not exclude any Court, including the Hon'ble High Courts or Hon'ble Supreme Court of India. 7. There is no provision to file any money suit or suit for recovery before the Hon'ble Supreme Court except under Article 131 of the Co....