A recent notification by the Ministry of Corporate Affairs said that companies that have entered into production or revenue-sharing contracts, exploration licenses, and mining leases made under the Oilfields (Regulation and Development) Act would be exempt from the moratorium provision under the IBC.
Against this backdrop, Mukesh Chand, Senior Counsel, Economic Laws Practice (ELP) has been quoted in an article, Government Exempts Petroleum Assets From Moratorium; Aviation, Telecom May Be Next published by BQ Prime.
