2022 (6) TMI 1434

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....CAL) For the Financial Creditor : Mr. Om Narayan Rai, Advocate., Mr. Debasish Chakraborti, Advocate. For the Corporate Debtor : Mr. Mainak Bose, Advocate., Ms. Urmila Chakrabarty, Advocate., Mr. Pranav Sharma, Advocate . For Resolution Professional : Mr. Ashok Kumar Agarwal, RP in person ORDER RAJASEKHAR V.K., MEMBER (JUDICIAL) Prologue 1. The Court convened via hybrid mode. ....

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....B) No. 310/KB/2022 4. This is an application under section 60(5) of the Insolvency and Bankruptcy Code('Code') by Mr. Manoj Toshniwal ('Personal Guarantor')of the Corporate Debtor inter alia, praying for the following reliefs; (a) An order for setting aside the order dated 17 February, 2022, passed by this Adjudicating Authority. Submission by the Ld. Counsel appearing on behalf of ....

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....he interim moratorium period the creditors of the debtor shall not initiate any legal action or proceedings in respect of any debt. Hence, the proceeding in C.P (IB) No. 319/KB/2021 before this Adjudicating Authority should also be stayed. Analysis and Findings 8. We have heard the Ld. Counsel appearing on behalf of the parties and perused the documents on record. 9. On a conjoint and car....

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....(3) The provisions of sub-section (1) shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector regulator. of the Code it appears that an interim moratorium shall commence on the date of the application in relation to all the debts and shall cease to have effect on the date of admission of such application and; during the interim....