Creditor can’t be allowed to pursue proceedings u/s 19(3) of RDDBFI Act, 1993 for recovery of loan amount taken by debtor (in liquidation) before DRT against the guarantors when NCLT has already issued moratorium under Sec. 14 of the IBC, 2016 & stayed proceedings in respect of the Debtor- Sanjeev Shriya Vs. State Bank of India & 6 Oths.- Allahabad High Court

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WhatsApp Bulletin-26