Prohibition On Filing Applications Under Sections 7, 8, And 10 Remains Effective Even After Section 10A Period Has Expired: NCLAT Principal Bench

The NCLAT ruled that the prohibition on filing applications under Sections 7, 8, and 10 of the IBC remains effective even after the period specified in Section 10A has expired. Section 10A imposes a moratorium on the initiation of insolvency proceedings during the COVID-19 pandemic. The tribunal determined that this prohibition continued to apply even after the formal expiry of the period specified in Section 10A, ensuring that insolvency proceedings are not initiated under the pre-COVID provisions during this extended period. This decision underscores the tribunal's approach to maintaining protections for companies affected by exceptional circumstances.