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EFFECT OF MORATORIUM AND ITS INTERPLAY WITH THE PROVISIONS OF THE NEGOTIABLE INSTRUMENTS ACT AN EVOLVING SUBJECT

UNIQUE TIMES

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April - May 2025

The issue of the applicability of moratorium under the Insolvency & Bankruptcy Code, 2016 (“the Code”) and its interplay with proceedings under Section 138 of the Negotiable Instruments Act, 1881 (NI Act) has been a vexed topic.

EFFECT OF MORATORIUM AND ITS INTERPLAY WITH THE PROVISIONS OF THE NEGOTIABLE INSTRUMENTS ACT AN EVOLVING SUBJECT

In this article, I intend to dwell on a recent judgment of the Hon'ble Supreme Court in Vishnoo Mittal Vs Shakti Trading Company 2025 SCC Online SC 558, which has addressed certain key issues.

Before delving into the said judgment, one must understand a few fundamental aspects which are germane to the issue under consideration. I wish to analyse them in the ensuing paragraphs and then pro-

1. Section 14 of the Code - What does it cover?

Section 14 of the Code provides a moratorium in respect of a corporate debtor under the Corporate Insolvency Resolution Process. Section 14 of the Code confers a moratorium in respect of the following:

i. The institution of suits or continuation of pending suits or proceedings against the corporate debtor including execution of any judgment, decree or order in any court of law, tribunal, arbitration panel or other authority;

ii. Transferring, encumbering, alienating or disposing of by the corporate debtor any of its assets or any legal right or beneficial interest therein;

iii. Any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002); and

iv. The recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor.

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PATRIOTIC INDIA @ 2047: BUILDING CITIZENS OF UNSHAKEABLE CHARACTER

To achieve a strong, self-respecting nation by 2047, the focus must shift from merely celebrating freedom to rigorously cultivating \"Freedom Keepers\"—citizens whose loyalty to the nation and its ethical framework (Dharma) supersedes personal gain. This requires a complete overhaul of the civic and value education system, starting at the earliest stages of schooling.

time to read

3 mins

October - November 2025

UNIQUE TIMES

UNIQUE TIMES

ASIA'S FINAL WORD: SPOKEN IN BLUE

Team India go full throttle maintaining a clean slate to emerge as the winners of ASIA CUP 2025.

time to read

4 mins

October - November 2025

UNIQUE TIMES

UNIQUE TIMES

VARIOUS STAGES OF MEMORY FORMATION AND STORAGE

Memory is the process in which the mind interprets, stores, and retrieves information. Memory serves human beings in many complex ways.

time to read

4 mins

October - November 2025

UNIQUE TIMES

UNIQUE TIMES

JOURNEY FROM FILMS TO VEDAS

Durrani's approach was revolutionary. He chose to render the Samaveda not only in Hindi, the most widely spoken language in India, but also in Urdu, a language often associated with Islamic culture.

time to read

9 mins

October - November 2025

UNIQUE TIMES

UNIQUE TIMES

THE SELF: WHERE PROFESSIONALISATION BEGINS

A family business in Kerala had been thriving for two generations.

time to read

3 mins

October - November 2025

UNIQUE TIMES

UNIQUE TIMES

EA in $50 Billion Buyout Talks

Electronic Arts (NASDAQ: EA), the publisher behind hit franchises like FC and Battlefield, is reportedly in advanced talks to go private in a deal valued at about $50 billion, which would be the largest leveraged buyout in history.

time to read

1 min

October - November 2025

UNIQUE TIMES

UNIQUE TIMES

PUMPKIN GLOW: NATURE'S SECRET TO SMOOTH, RADIANT SKIN

When we think of pumpkins, the first image that comes to mind is often a cosy bowl of soup, a spiced latte, or perhaps even Halloween decorations.

time to read

2 mins

October - November 2025

UNIQUE TIMES

UNIQUE TIMES

A DECADE OF EXCELLENCE: MANAPPURAM VPN IBE AWARDS 2025

In a world where genuine gestures of gratitude are rare, Dr. Ajit Ravi has consistently demonstrated the power of acknowledgment.

time to read

2 mins

October - November 2025

UNIQUE TIMES

UNIQUE TIMES

NDB Plans First Rupee Bond Issuance in India by March 2026

The BRICS-backed New Development Bank (NDB) is set to launch its first Indian rupee-denominated bond in the domestic market before March 2026, aiming to raise $400-500 million through 3-5 year bonds.

time to read

1 min

October - November 2025

UNIQUE TIMES

UNIQUE TIMES

THE ENTREPRENEUR'S ODYSSEY

Entrepreneurship has always been glorified as freedom, innovation, and daring to dream. Yet anyone who has walked its path knows that the image painted by society and the media is a half-truth at best.

time to read

5 mins

October - November 2025

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