💨 Abstract

The Supreme Court ruled that the interim moratorium under the Insolvency and Bankruptcy Code (IBC) does not protect individuals or companies from regulatory penalties imposed under consumer protection laws. The verdict was passed in a case where a developer was facing penalties from the National Consumer Disputes Redressal Commission (NCDRC) for delayed possession of residential units.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖