Section 53 of the IBC. Permitting two
proceedings to continue would therefore defeat either Section 31 or Section 53 of
the IBC, as the case ... section 7
or section 9 or section 10 , shall, by an order—
(a) declare a moratorium for the purposes referred to in section 14
Mohanraj (supra) as regards the language of the Section 14 and Section 85
of the IBC respectively. It was held therein that the language ... IBC, (b)
corporate debtor liquidation under Section 33 of the IBC, (c) personal
insolvency under Sections 96 and 101 of the IBC, and (d) bankruptcy
initiated against
such corporate debtor under Section 7 or Section 9 IBC, the Adjudicating Authority
under Section 14(1) IBC passes an order to declare ... Section
96 IBC, while stating the protection of moratorium under these sections 96 and
101 IBC is far greater than the moratorium under section 14
hold that a Sections 138 / 141 proceeding against a
corporate debtor is covered by Section 14(1)(a) IBC."
Emphasis supplied
23. Thus ... made clear by
Section 96(3) and Section 101(3) which contain the same language as Section 14(3)
(a), these sections speaking
IBC; the authorised Officer, under Section 14 of the
SARFAESI Act, is an authority under Section 14(1) IBC; and,
consequently, the order ... magistrate is sought under
Section 14 of the SARFAESI Act.
Section 14(1)(a) of the IBC prohibits institution of suits, or
continuation of pending
explanation appended to
Section 14(1) cannot be construed to defeat the
clauses (a) to (d) of Section 14(1) . The explanation
inserted ... section (1) of Section 14 . The submission is that however
wider expression may be given to the word "proceedings",
occurring in Section 14
admitted the petition under Section 9 of the
IBC and had declared moratorium in terms of Section 14 of the IBC and also
appointed ... Tribunal admitting the petition under
Section 9 of the IBC and declaring moratorium in terms of Section
14 of IBC and Interim Resolution Professional
Second, the interdict contained in
clause (c) of sub section (1) of section 14 of IBC, according to Mr.
Andhyarujina, operates with full rigor ... section 14 , in particular, the import of the bar envisaged by
clauses (a) and (c) of sub section 14(1) of IBC deserves
Second, the interdict contained in
clause (c) of sub section (1) of section 14 of IBC, according to Mr.
Andhyarujina, operates with full rigor ... section 14 , in particular, the import of the bar envisaged by
clauses (a) and (c) of sub section 14(1) of IBC deserves
Second, the interdict contained in
clause (c) of sub section (1) of section 14 of IBC, according to Mr.
Andhyarujina, operates with full rigor ... section 14 , in particular, the import of the bar envisaged by
clauses (a) and (c) of sub section 14(1) of IBC deserves
