Section 96(1)(b) of I & B Code doesn’t contemplate stay to any future liability

Ashok Mahindru Vs Vivek Parti (NCLAT Delhi)

NCLAT Delhi held that Section 96(1)(b) of I&B Code cannot be read to mean that any future liability or obligation is contemplated to be stayed. Thus, stay of proceedings under Section 19(2) and Section 66-67 is not contemplated under Section 96(1)(b)

Facts-

Proceedings were initiated u/s. 9 of the Please become a Premium member. If you are already a Premium member, login here to access the full content.