The National Company Law Tribunal (NCLT) has ordered a moratorium on a debt-ridden company, M/s. Jet Airways (India) Ltd. Background: The company had been facing financial difficulties and had failed to repay its debts. Parties: The petition was filed by the company against its creditors. Legal issues: The main issue before the NCLT was whether the company was eligible for a moratorium under the Insolvency and Bankruptcy Code (IBC). Court observations: The NCLT observed that the company was eligible for a moratorium and that it would provide the company with an opportunity to restructure its debts. Significance: The order highlights the importance of the IBC in resolving insolvency cases and the role of the NCLT in providing relief to debt-ridden companies. The moratorium ordered by the NCLT is expected to have significant implications for the company and its creditors.