2025 LiveLaw (SC) 774 IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION SANJAY KUMAR; J., SATISH CHANDRA SHARMA; J.

CIVIL APPEAL NO. 12812 OF 2024; August 05, 2025 Sincere Securities Private Limited & Ors. versus Chandrakant Khemka & Ors.

Insolvency and bankruptcy Code, 2016 - Section 62 – Appeal - Section 14 - Moratorium - IBC Moratorium doesn’t bar voluntary surrender of corporate debtor’s leased property to lessor if retaining the asset is deemed unviable and the Committees of Creditors (CoC) endorses decision - Held that commercial wisdom of the CoC should be given primacy during CIRP (Corporate Insolvency Resolution Process) - this case was distinguished from a simple recovery of property barred by Section 14(1)(d) of the IBC, as the CoC and Resolution Professional themselves desired to return the property due to adverse financial implications of retaining it - The respondent was stalling the process for “undisclosed and extraneous reasons” - Section 14(1)(d) of the IBC states that once the adjudicating authority, by order, declares a moratorium, it would prohibit, amongst other acts, the recovery of any property by an owner or lessor where such property is occupied by