No bar against legal proceedings continuing concurrently with IBC liquidation proceedings 

Elecon Engineering Company Limited Vs Energo Engineering Projects (Delhi High Court) There is no absolute bar against a lawsuit or legal proceedings continuing concurrently with the liquidation proceedings under Section 33(5) of the IBC (Liquidation Moratorium), unlike Section 14 of the IBC (CIRP Moratorium). Facts of the Case: The case was filed seeking relief of permanent injunction restraining the defendant no. 1 company from encashment of bank guarantees and for recovery of a sum of Rs. 10,69,77,650/- Plaintiff contended that defendant no. 1 had wrongfully and unlawfully invoked/encashed t...