9911796707
TMI Blog2017 (12) TMI 1107X X X X Extracts X X X X X X X X Extracts X X X X ..... y Code is that the moment an insolvency petition is admitted, the moratorium that comes into effect under Section 14(1)(a) expressly interdicts institution or continuation of pending suits or proceedings against Corporate Debtors. This being the case, we are surprised that an arbitration proceeding has been purported to be started after the imposition of the said moratorium and appeals under Se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -2017 - MR. ROHINTON FALI NARIMAN AND MR. SANJAY KISHAN KAUL, JJ. For The Petitioner : Mr. Sidhartha Luthra, Sr. Adv. Mr. Abhirup Das Gupta, Adv. Ms. Swati Sharma, Adv. Manmayi Sharma, Adv.Mr. Rahul Pratap, AOR For The Respondent : Mr. Jayant Bhushan, Sr. Adv. Ashu Kansal, Adv. Anushree Prashit Kapadia, AOR And Suvidutt M.S., AOR ORDER 1) Leave granted. 2) Heard the learn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt No.1 to Respondent No.2 invoking the arbitration clause between the parties and Shri Pankaj Garg, an Advocate, was appointed as Sole Arbitrator. Shri Garg entered upon the reference. In an other order dated 31.05.2017, the National Company Law Tribunal, Principal Bench, New Delhi referred to Section 14 (1)(a) of the Insolvency Code and stated that given the moratorium that is imposed, no arbitr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... after the imposition of the said moratorium and appeals under Section 37 of the Arbitration Act are being entertained. Therefore, we set aside the order of the District Judge dated 06.07.2017 and further state that the effect of Section 14(1)(a) is that the arbitration that has been instituted after the aforesaid moratorium is non est in law. 7) Mr. Jayant Bhushan, learned Senior Counsel, als ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
