(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.
Insolvency and Bankruptcy Code 2016
Section 11 Persons not entitled to make application
Section 12 Time-limit for completion of insolvency resolution process
Section 13 Declaration of moratorium and public announcement
Section 15 Public announcement of corporate insolvency resolution process
Section 16 Appointment and tenure of interim resolution professional
Section 17 Management of affairs of corporate debtor by interim resolution professional
Section 18 Duties of interim resolution professional
Section 19 Personnel to extend cooperation to interim resolution professional
Section 20 Management of operations of corporate debtor as going concern