Moratorium u/s. 14 of IBC cannot be extended against large public interest

Aegis Resolution Service Private Limited Vs Slum Rehabilitation Authority (SRA) (NCLT Mumbai) NCLT Mumbai held that imposition of moratorium u/s. 14 of Insolvency and Bankruptcy Code, 2016 for the acquisition of land by Mumbai Metropolitan Region Development Authority [MMRDA] by no stretch of imagination be extended against large public interest. Facts- The Respondents i.e. Slum Rehabilitation Authority and MMRDA have initiated steps for acquisition of the land for construction of four-lane tunnel road connecting Thane to Borivali and it is pursuant to the same, the Respondent No. 1 i.e. SRA (...