Section 5(b) in Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019
(b)Moratorium. - Save as provided in section 14, -(i)an interim moratorium shall commence on and from the date of filing of the application under clause (a) till its admission or rejection; and(ii)the license or registration which authorises the financial service provider to engage in the business of providing financial services shall not be suspended or cancelled during the interim-moratorium and the corporate insolvency resolution process.
