Perusal of Pending Proceeding before HC after declaration of Moratorium in IBC, 2016

In this editorial author discusses Judgment National Company Law Appellate Tribunal (NCLAT) in the case of Steamline Industries  Ltd Vs. Tecpro Systems Ltd with reference to Section 14(1)(a) and 238 of the Insolvency and Bankruptcy Code, 2016 (IBC, 2016) on the issue  “Whether Pending Proceeding before Honourable High Court can be peruse after declaration of Moratorium in IBC, 2016”

A. Factual Background:

I. CIRP has already been initiated against the Corporate Debtor u/s 7 of IBC, 2016.

II. Moratorium ordered U/s 13 read with section 14 of the I&B Code.

III .The civil suits against the CD and another pending before the Honourable High Court of Delhi can’t be proceed.

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