28 Sep 2020
The Ministry of Corporate Affairs (MCA) has on September 24, 2020, extended the moratorium against filing of applications for commencement of corporate insolvency resolution processes against corporate debtors for any defaults arising post March 25, 2020, by a further period of 3 months i.e. till December 25, 2020.
The moratorium, which came into effect in June, was originally announced for a period of 6 months i.e. from March 25, 2020 to September 25, 2020. The MCA is authorised to further extend the moratorium until March 25, 2021.
For further information, please contact:
Zia Mody, Partner, AZB & Partners
zia.mody@azbpartners.com
