Impact of Section 60(6) of the IBC - Exclusion of moratorium ...

Case Laws     Insolvency and Bankruptcy

May 24, 2022

Impact of Section 60(6) of the IBC - Exclusion of moratorium period for initiation of proceedings of suit - Interpreting the statute in the manner which the appellant seeks would result in our denying the benefit of extending the period of limitation to the corporate debtor, a result, which we think, would not be warranted by the clear words used in the statute. - Section 60(6) of the IBC does contemplate exclusion of the entire period during which the moratorium was in force in respect of corporate debtor in regard to a proceeding as contemplated therein at the hands of the corporate debtor. - SC

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