Section 96(1) in Insolvency And Bankruptcy Code, 2016
(1)When an application is filed under section 94 or section 95-(a)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(b)during the interim-moratorium period-(i)any legal action or proceeding pending in respect of any debt shall be deemed to have been stayed; and(ii)the creditors of the debtor shall not initiate any legal action or proceedings in respect of any debt.
