- (1.) Tribunal to pass order on admission of the petition. It is very clear that this Tribunal has already appointed an IRP for Respondent No.1 company, M/s. Falcon Tyres Ltd. in CP (IB) No.01/BB/17 dated 30.08.2017 and further passed an order of moratorium under section of 14 of the I & B Code.
(2.) Now, the question before the Tribunal is whether the Tribunal can pass any order in this matter, particularly, an order regarding admission of the petition in the light of the moratorium order passed in CP (IB) No.01(BB) /17.
(3.) We have seen Section 14 of I & B Code. Section 14(1) (a) provides that when moratorium is passed, the Tribunal shall pass an order prohibiting (a) 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. The .the order of moratorium is in force. The Tribunal cannot proceed in the matter pending against the corporate debtor.;