Concept of Moratorium in Insolvency and Bankruptcy Code and what the2019 amendment entails
Author: Adv. Naushad Alam, Campus Law Centre, Delhi University, Delhi, India
The paper seeks to analyse the concept of moratorium in the Insolvency and Bankruptcy Code, and answers the questions such as who can initiate the process of moratorium, when the process to initiate moratorium comes into play, what are the requirements for initiating the process of moratorium, time period of moratorium, whether this time can be extended and who can have the recovery of their debt in the time period during the moratorium over the selling of assets to secure the debt, whether there is a difference between the personal asset and corporate asset in considering the selling of asset to secure the debt. Further, the paper seeks to analyse the recent amendment made to the Insolvency and Bankruptcy Code and what it entails for the benefit of Committee of Creditors. The amendments are to be analysed for the important changes that could entail and whether there is any change over the applicability of the period of Moratorium.
Keywords: Moratorium, Insolvency, Bankruptcy, Financial Creditors, operational Creditors
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