SUPREME COURT: PENALTIES IMPOSED BY CONSUMER COURTS ARE REGULATORY IN NATURE AND DO NOT CONSTITUTE “DEBT” UNDER IBC
In the case of Saranga Anilkumar Aggarwal vs. Bhavesh Dhirajlal Sheth & Ors. (Civil Appeal No. 4048 of 2024), the Supreme Court adjudicated upon whether execution proceedings under Section 27 of the Consumer Protection Act, 1986 (CP Act), could be stayed during an interim moratorium under Section 96 of the Insolvency and Bankruptcy Code, 2016 […]