Highlights
- The Supreme Court ruled that the interim moratorium under Section 96 of the Insolvency & Bankruptcy Code, 2016, does not protect corporate debtors from penalties under the Consumer Protection Act, 1986, emphasizing the importance of consumer protection regulations during insolvency proceedings.
- Legal experts clarified that the moratorium applicable to corporate debtors under Section 14 of the Insolvency & Bankruptcy Code is broader than that under Section 96, and while it provides some protections, it does not exempt corporate debtors from complying with regulatory obligations.
- The moratorium does not prevent regulatory actions from being enforced against corporate debtors,…
