9911796707
TMI Blog2022 (7) TMI 1343X X X X Extracts X X X X X X X X Extracts X X X X ..... en filed against the assessee-company and the same has been admitted by the National Company Law Tribunal(NCLT),Ahmedabad Bench vide order dated 10th November, 2020 passed in CP (IB) No.72/9/NCL/AHM/2018. A copy of the said order is also placed on record before us, the relevant of which reads as under:- " 1. The Corporate Debtor, M/s. Sterling Lam Limited is admitted in Corporate Insolvency Resolution Process under Section 9 of the Insolvency and Bankruptcy Code, 2016. 2. The moratorium under Section 14 of Insolvency and Bankruptcy Code, 2016 is declared for prohibiting all of the following in terms of Section 14(1) of the Code. a. the institution of suits or continuation of pending suits or proceedings against the corporate debtor in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7, 18, 20 & 21 of the Code, It is further made clear that all personnel connected with Corporate Debtor, its Promoter or any other person associated with management of the Corporate Debtor are under legal obligation under Section 19 of the Code extending every assistance and co-operation to the Interim Resolution Professional Where any personnel of the Corporate Debtor, its Promoter or any other person required to assist or cooperate with IRP, do not assist or Co-operate, the IRP is at liberty to make appropriate application to this Adjudicating Authority with a prayer for passing an appropriate order. 6. This Adjudicating Authority directs the IRP to make a public announcement of initiation of Corporate Insolvency Resolution Process (CIR ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the process of Corporate Insolvency Resolution Process (CIRP) is still pending. She has submitted that there is a moratorium for institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgement, decree or order in any Court of Law, Tribunal, Arbitration Penal or other authority in view of Section 14(1) (a) of the Insolvency and Bankruptcy Code, 2016 and, therefore, no proceedings can be continued including the Income-tax proceedings before this Tribunal in the case of the assessee during a moratorium period. 3. The Ld.counsel for the assessee has invited our attention to the decision of Bombay Bench of this Tribunal in the case of Mahavir Roads & Infrastructure Pvt.Ltd. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... irected that: I. That the supply of essential goods or services to the corporate debtor, if continuing, shall not be terminated or suspended or interrupted during the moratorium period. II. That the provisions of sub-section (1) of Section 14 of IBC shall not apply to such transactions as may be notified by the Central Government in consultation with any financial sector Regulator. III. That the order of moratorium shall have effect from the date of this order till the completion of the corporate insolvency resolution process, or until this Bench approves the resolution plan under subsection (1) of Section 31 of IBC or passes an order for liquidation of corporate debtor tinder section 33 of IBC, as the case may be. IV. That the publ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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