Moratorium period u/s 101 of IBC cannot be Extended Beyond 180 Days: NCLAT

The NCLAT ruled that the moratorium period under Section 101 of the Insolvency and Bankruptcy Code (IBC) cannot be extended beyond 180 days. The decision reaffirms the legal framework governing insolvency proceedings and the duration of the moratorium period, which temporarily halts recovery actions against a distressed company. The NCLAT emphasized that the 180-day limit is fixed, and any extension beyond this period would require valid justification. This ruling ensures that the insolvency resolution process remains time-bound and efficient.