SC on Contours of Moratorium

The Supreme Court has clarified that the IBC moratorium is not a blanket shield. 

While proceedings against the corporate debtor remain stayed during insolvency, promoters, directors, landowners and other non-corporate respondents can still face consumer proceedings if they have an independent liability. 

The ruling ensures that homebuyers and creditors are not left without remedies simply because the developer has enteredCIRP.