Whether 180 days moratorium period prescribed under Section 101(1) of the IBC is directory or mandatory, and whether it can be extended by Adjudicating Authority or Appellate Tribunal? – Anil Kumar Vs. Mukund Choudhary – NCLAT New Delhi
The Hon’ble NCLAT held that:
(i) Conceding any power to the Adjudicating Authority or this Tribunal to extend the said period shall be plainly against the statutory scheme of Section 101(1).
(ii) When the statutory scheme is clear and unambiguous, there is no role of any interpretive process to find out the jurisdiction of NCLT to extend the period of Moratorium when statute provides a date for cessation of the Moratorium it cannot be extended by the Adjudicating Authority or by this Tribunal against the statutory intendment under Section 101(1).