Can Adjudication of Counter Claim be stayed in Purview of Moratorium Declared on Corporate Debtor?

SSMP Industries Ltd Vs Perkan Foods Processors Pvt Ltd (Delhi High Court) FACTS In this case,a suit was filed for recovery of Rs.1,61,47,336.44 against which a counter claim was filed stating that the Defendant is entitled to recover a sum of Rs.59,51,548/- and no amount is due and payable to the Plaintiff. This occurred when CIRP had already been initiated against the Plaintiff. ISSUE BEFORE THE HIGH COURT Whether adjudication of counter claim is required to be stayed in view of Section 14 of the Code? CONCLUDING VIEW The Court held that Plaintiff’s and the Defendant’s c...