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MCA Excludes Certain Transactions/Contracts from the Purview of Moratorium under IBC

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moratorium under IBC

MCA Notification F. No. Insol-30/1/2023, dated 14.06.2023

The Ministry of Corporate Affairs has notified that the prohibition under moratorium period shall not be applicable to the production sharing contracts, revenue sharing contracts, exploration licenses and mining leases made under the oilfields (Regulation and Development) Act, 1948 (53 of 1948) entered by the corporate debtor.

Further, any transactions, arrangements or agreements, including Joint Operating Agreement, connected or ancillary to the above transactions/arrangements or agreements shall also be excluded.

Click Here To Read The Full Notification

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