# The Insolvency and Bankruptcy Code, 2016, Section 13: Declaration of moratorium and public announcement

- Act: The Insolvency and Bankruptcy Code, 2016 (Act 31 of 2016)
- Ministry: Ministry of Corporate Affairs
- Source URL: https://indiacode.ecourtsindia.com/insolvency-bankruptcy-code-2016/section/13/

## Text

(1) The Adjudicating Authority, after admission of the application under section 7 or section 9 or section 10, shall, by an order— (a) declare a moratorium for the purposes referred to in section 14; (b) cause a public announcement of the initiation of corporate insolvency resolution process and call for the submission of claims under section 15; and (c) appoint an interim resolution professional in the manner as laid down in section 16. (2) The public announcement referred to in clause (b) of sub-section (1) shall be made immediately after the appointment of the interim resolution professional.

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