60. (1) The Adjudicating Authority, in relation to insolvency resolution
and liquidation for corporate persons including corporate debtors and
personal guarantors thereof shall be the National Company Law Tribunal
having territorial jurisdiction over the place where the registered office
of the corporate personis located.
(2) Without prejudice to sub-section (1) and notwithstanding anything to the
contrary contained in this Code, where a corporate insolvency resolution
process or liquidation proceeding of a corporate debtor is pending before a
National Company Law Tribunal, an application relating to the insolvency
resolution or bankruptcy of a personal guarantor of such corporate debtor
shall be filed before such National Company Law Tribunal.
(3) An insolvency resolution process or bankruptcy proceeding of a personal
guarantor of the corporate debtor pending in any court or tribunal shall
stand transferred to the Adjudicating Authority dealing with insolvency
resolution process or liquidation proceeding of such corporate debtor.
(4) The National Company Law Tribunal shall be vested with all the powers of
the Debt Recovery Tribunal as contemplated under Part III of this Code for
the purpose of sub-section (2).
(5) Notwithstanding anything to the contrary contained in any other law for
the time being in force, the National Company Law Tribunal shall have
jurisdiction to entertain or dispose of-
(a) any application or proceeding by or against the corporate debtor or
corporate person;
(b) any claim made by or against the corporate debtor or corporate person,
including claims by or against any of its subsidiaries situated in India;
and
(c) any question of priorities or any question of law or facts, arising out
of or in relation to the insolvency resolution or liquidation proceedings of
the corporate debtor or corporate person under this Code.
(6) Notwithstanding anything contained in the Limitation Act, 1963 or in any
other law for the time being in force, in computing the period of limitation
specified for any suit or application by or against a corporate debtor for
which an order of moratorium has been made under this Part, the period
during which such moratorium is in place shall be excluded.