Extension of moratorium period beyond 180 days impermissible: NCLAT Delhi

Anil Kumar Vs Mukund Choudhary (NCLAT Delhi) NCLAT Delhi held that as per expressed provisions of section 101(1) of the Insolvency and Bankruptcy Code, 2016 moratorium period cannot be extended beyond 180 days. Accordingly, appeal dismissed. Facts- On an Application filed u/s. 94(1) of the Insolvency and Bankruptcy Code, 2016 by the Personal Guarantor, Respondent herein, Adjudicating Authority passed an Order on 08.04.2021, declaring Interim Moratorium in terms of Section 96 of the IBC. By the same Order, the Appellant herein was appointed the Resolution Professional. Appellant filed a Report ...