Voluntary Surrender of Corporate Debtor's Leased Property to Lessor not barred by IBC Moratorium: Supreme Court upholds NCLT's decision

The Supreme Court has upheld the NCLT's decision that the "voluntary surrender of a corporate debtor's leased property to the lessor is not barred by the IBC moratorium." The court's decision provides a significant clarification on the scope of the moratorium under the Insolvency and Bankruptcy Code. The ruling reinforces that the moratorium is intended to protect a company from legal proceedings, not to prevent a company from fulfilling its contractual obligations.