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TMI Blog2024 (2) TMI 23X X X X Extracts X X X X X X X X Extracts X X X X ..... which is the subject-matter of moratorium under Section 14 of the IBC - HELD THAT:- The National Commission has not made any adjudication on the question whether the opposite party Nos. 2 to 9(the respondent Nos. 2 to 9) in the execution application were under an obligation to abide by the directions issued against the company. This issue has not been considered at all by the National Commission. There is no finding recorded by the National Commission that in view of any particular provision of the IBC, moratorium will apply to the directors/officers of the company. Only because there is a moratorium under Section 14 of the IBC against the company, it cannot be said that no proceedings can be initiated against the opposite party Nos. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ), an order was made by the National Commission directing the Developer to complete the project in all respects and handover the possession of the allotted flats/apartments to the members of the Association of the homebuyers within the time specified. In the said order, a direction was issued giving an option to the homebuyers, which reads thus: - ...(vi) If the Members of the Complainant Association are not interested to wait any more for taking possession of the allotted Apartment and they want refund of the their deposited amount, the Opposite Party Developer shall refund the entire deposited amount along with interest @9% p.a. from the respective date of deposit till payment, within a period of six weeks from today failing which t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on proceeding against the directors/officers of the company, which is the subject-matter of moratorium under Section 14 of the IBC. 5. A reliance is placed by the appellant on the second proviso to sub-Section (1) of Section 32A of the IBC and a decision of this Court in the case of P. Mohanraj vs. Shah Bros. Ispat (P) Ltd. (2021) 6 SCC 258 . Our attention is also invited to another decision of this Court in the case of Anjali Rathi and others vs. Today Homes and Infrastructure Pvt. Ltd. And Others (2021) SCC OnLine SC 729 . Hence, the submission is that the view taken by the National Commission is erroneous. 6. Mr. Nikhil Nayyar, the learned senior counsel appearing for the respondent Nos. 2, 4, 5, 6, 7 and 8 and Mr. Pradeep Aggar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e corporate debtor would be covered by the moratorium provision contained in Section 14 IBC, by which continuation of Sections 138/141 proceedings against the corporate debtor and initiation of Sections 138/141 proceedings against the said debtor during the corporate insolvency resolution process are interdicted, what is staed in paras 51 and 59 in Aneeta Hada [Aneeta Hada v. Godfather Travels tours (P) Ltd., (2012) 5 SCC 661 : (2012) 3 SCC (Civ) 350 : (2012) 3 SCC (Cri) 241] would then become applicable. The legal impediment contained in Section 14 Ibc would make it impossible for such proceedings to continue or be instituted against the corporate debtor. Thus, for the period of moratorium, since no Sections 138/141 proceeding can contin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... um under Section 14 of the IBC against the company, it cannot be said that no proceedings can be initiated against the opposite party Nos. 2 to 9(the respondent Nos. 2 to 9) for execution, provided that they are otherwise liable to abide by and comply with the order, which is passed against the company. The protection of the moratorium will not be available to the directors/officers of the company. 12. Therefore, we set aside the impugned judgments and orders and remit the execution application to the National Commission. The execution will continue against the opposite party Nos. 2 to 9(the respondent Nos. 2 to 9) in the execution application. 13. It is open for the opposite party Nos. 2 to 9(the respondent Nos. 2 to 9) to raise a co ..... X X X X Extracts X X X X X X X X Extracts X X X X
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