Moratorium excludes government-notified transactions of essential goods/services & surety in a contract of guarantee

Manish Aneja & Ors. Vs Revital Reality Private Limited (NCLT Delhi) Manish Aneja and other financial creditors (collectively referred to as the “Financial Creditors”) filed a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) to initiate the Corporate Insolvency Resolution Process (CIRP) against Revital Reality Private Limited (“Corporate Debtor”). The petition was filed on the grounds of a default amounting to INR 31,22,62,345, which the Corporate Debtor failed to pay for residential units booked by the Financial Creditors in a real estate p...