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PRATHIBA M. SINGH
Siddhi Enterprises – Appellant
Versus
Rajesh Projects India Pvt Ltd – Respondent
JUDGMENT
Prathiba M. Singh, J. - This hearing has been done through video conferencing.
2. The present petition challenges the impugned order dated 30th august, 2019 in CS No. 410/2017 titled Siddhi Enterprises v. Rajesh Projects India Private Limited passed by the ld. aDJ-04 (NW)/ Rohini Courts (hereinafter 'Trial Court') by which unconditional leave has been granted by the Trial Court to the Defendant/Respondent (hereinafter 'Defendant').
3. The petition arises out of suit filed by the Plaintiff/Petitioner (hereinafter 'Plaintiff') under Order XXXVII seeking recovery of a sum of Rs.14,00,800/- along with interest. The Defendant had filed an application seeking leave to defend and the Trial Court has held that there were triable issues on record which need the test of trial leading to the impugned order.
4. Notice was issued by this Court vide order dated 06th November 2019 in this petition. However, the same could not be served upon the Respondent due to the lockdown as per the Registry's report.
5. Counsel for the Plaintiff, Mr. Parveen Semwal, submits that the Defendant is currently undergoing insolvency proceedings and vide order dated 19th September, 2019 in C.P. No. IB- 710(PB)/2
The implications of the moratorium imposed by the NCLT under section 14 of the Insolvency and Bankruptcy Code, 2016, on the rights of the parties in ongoing suits and proceedings.
The moratorium under the Insolvency and Bankruptcy Code restricts the continuation of legal proceedings against a corporate debtor, impacting suits filed prior to initiation of insolvency proceedings....
A suit filed against a corporate debtor during the moratorium period under Section 14 of the IBC is invalid.
A moratorium under the Insolvency Code restricts arbitration proceedings against a corporate debtor, necessitating judicial review due to absence of provisions in the Arbitration Act for such scenari....
A moratorium under the IBC does not preclude actions against promoters for execution of decrees.
The court ruled that a moratorium under the Insolvency and Bankruptcy Code cannot be deemed effective without an express declaration, establishing the importance of clear procedural compliance in ins....
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