NCLT Restrains MIDC from Demolishing K-Lifestyle Property

NCLT Ahmedabad allows Resolution Professional's application under IBC Section 60(5) to protect corporate debtor's assets.
Tribunal restrains MIDC from demolishing or terminating lease of K-Lifestyle's Dombivli plots during CIRP moratorium.
Court finds MIDC's demolition and termination notices issued during moratorium violate Section 14 of Insolvency and Bankruptcy Code.
Order cites Supreme Court precedent that IBC provisions override other laws during insolvency resolution process.