M. Suresh Kumar Reddy vs Canara Bank

The Supreme Court examined the validity of the moratorium declared under Section 14 of the Insolvency and Bankruptcy Code, 2016, in the context of a corporate debtor and the rights of a suspended director challenging the NCLT and NCLAT orders. The Court upheld the tribunals' decisions, emphasizing the statutory provisions governing insolvency proceedings and the scope of moratorium. The Court clarified that the moratorium applies to the corporate debtor and its assets, and the appeal by the suspended director was dismissed as without merit.