Section 13 of Insolvency and Bankruptcy Code 2016
[ Note : Section 13 comes into force w.e.f 1st December 2016 vide notification no S.O. 3594(E) dated 30th November 2016 ].
Declaration of moratorium and public announcement.
13. (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.