AI Structured Summary
Not yet generated for this judgment
Judgment
ORDER
Learned Counsel for Petitioner appeared.
Interim moratorium commences from the date of filing of the Petition under Section 96 (1) (a) of I&B Code, 2016. Legal actions are governed under Section 96 (1) (b) of IBC, which reads as under:-
Section 96 (1): When an application is filed under section 94 or section 95— To share 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.
Shri Dantu Indo Sekhar, having Registration No. IBBI/IPA-003/IPA-ICAI-N-00233/2019-2020/12773 is appointed as IRP. The IRP to file report under Section 99 of the IBC within 10 days from the date of his appointment. The counsel for the Petitioner is directed to inform the same and serve the application to the appointed IRP and file affidavit of service before the next date of hearing
Matter stands adjourned to 21.10.2021.