The
recent Supreme Court order saying interim moratorium in 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, say
experts.
The
top court’s order was in connection with the penalties and execution imposed on
the proprietor of East and West Builders, which is undergoing insolvency
proceedings by the National Consumer Disputes Redressal Commission (NCDRC).