Lien created prior to initiation of CIRP cannot sustain during moratorium u/s 14 of IBC

Teena Saraswat Pandey Vs Regional Provident Fund Commissioner (NCLT Mumbai)

NCLT Mumbai held that lien created prior to the initiation of the ‘Corporate Insolvency Resolution Process cannot sustain during moratorium under section 14 of Insolvency Bankruptcy Code (IBC).

Facts- The Applicant is the Insolvency Professional of M/s S & H Gears Private Limited (Corporate Debtor). The Applicant has submitted that even after the erstwhile IRP had published Form A on 18.03.20

Please become a Premium member. If you are already a Premium member, login here to access the full content.