SC's ruling on interim moratorium to keep errant developers in check

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SC's ruling on interim moratorium to keep errant developers in check - Business Standard

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The top court’s order was related to penalties and execution imposed on the proprietor of East and West Builders—undergoing insolvency proceedings—by the National Consumer Disputes Redressal Commission (NCDRC).

Batting for consumer rights, the recent Supreme Court order stating that an interim moratorium under the Insolvency and Bankruptcy Code (IBC) does not shield a company or an individual from paying regulatory dues has come as a blow to unscrupulous real estate developers, businesses, and personal guarantors using the Code to evade such payments, experts say.