ANSAL CROWN HEIGHTS FLATS BUYERS ASSOCIATION (REGD.) vs ANSAL CROWN INFRABUILD INDIA PVT. LTD.

The Supreme Court ruled that the execution of a decree against a company under moratorium as per Section 14 of the Insolvency and Bankruptcy Code, 2016 (IBC) is not permissible. The Court clarified that while the moratorium applies to the company, it does not extend to individual directors or officers, allowing for potential execution against them under Section 32A of the IBC. The Court held that the National Commission's decision to not proceed against the individuals was erroneous, thus allowing the appeal for execution against the directors/officers.