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HC couldn’t proceed with auction of assets of corporate debtor during moratorium: SC

November 28, 2019[2019] 111 474 (SC)/[2020] 157 SCL 350 (SC)

IBC : Where insolvency petition against corporate debtor had been admitted but during pendency of moratorium High Court by impugned order started auction proceedings of assets of corporate debtor, High Court ought not to have proceeded with auction of assets of corporate debtor, once proceedings under IBC had commenced and an order declaring moratorium was passed by NCLT
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