NCLT has inherent power to impose Moratorium before initiation of CIRP – NUI Pulp and Paper Industries Pvt. Ltd. Vs. M/s. Roxcel Trading GMBH – NCLAT

NCLAT held that once an application under Sections 7 or 9 is filed by the Adjudicating Authority, it is not necessary for the Adjudicating Authority to await hearing of the parties for passing order of ‘Moratorium’ under Section 14 of the ‘I&B Code’. To ensure that one or other party may not abuse the process of the Tribunal or for meeting the ends of justice, it is always open to the Tribunal to pass appropriate interim order.

NCLT has inherent power to impose Moratorium before initiation of CIRP – NUI Pulp and Paper Industries Pvt. Ltd. Vs. M/s. Roxcel Trading GMBH – NCLAT Read Post »