(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 Subs. by Act No. 26 of 2018, sec. 8 for the words, “seventy-five” (w.e.f. 6-6-2018). Ins. by Act No. 26 of 2019, sec. 4 (w.e.f. 16-8-2019). Ins. by Act No. 26 of 2018, sec. 9 (w.e.f. 6-6-2018).
(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.