Introduction
The moratorium is arguably the single most powerful protective mechanism the Insolvency and Bankruptcy Code, 2016 offers a corporate debtor. The moment CIRP is admitted, Section 14 throws up a legal shield around the company suits are stayed, recoveries are frozen, and essential supplies must continue giving the resolution process breathing room to work without the corporate debtor being picked apart by parallel litigation and enforcement action. But the moratorium has never been absolute, and a decade of litigation has drawn its boundaries with increasing precision. This article sets out what Section 14 covers, what it doesn’t, the key judicial clarifications, and the changes made by the IBC (Amendment) Act,…