Definition
Under Section 14 of the IBC, upon admission of a CIRP petition, an automatic moratorium is imposed. During moratorium, no suits, proceedings, or enforcement actions (including SARFAESI proceedings) can be initiated or continued against the corporate debtor. The moratorium does not affect criminal proceedings against individuals. Duration: from NCLT admission order until the resolution plan is approved or liquidation is ordered.
Need Expert Advice on Moratorium?
For specific advice on how Moratorium applies to your debt recovery matter, consult Advocate Subodh Bajpai — LLM, MBA (XLRI Jamshedpur). 25+ years of exclusive banking and debt recovery practice across DRT, SARFAESI, IBC, and NI Act.
Defined by Advocate Subodh Bajpai, Senior Partner, Unified Chambers and Associates