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TMI Blog2019 (7) TMI 1623X X X X Extracts X X X X X X X X Extracts X X X X ..... im arbitration is pending wherein claim petition filed by 'Deepak Cables (India) Limited' and counter claim raised by the Appellant- 'Power Grid Corporation of India' - HELD THAT:- We are not inclined to decide the claim of the Appellant at this stage as the Appellant will get right to file fresh claim application before the liquidator who is required to decide the same in terms of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it can take advantage of the same. Appeal disposed off. - Company Appeal (AT) (Insolvency) Nos. 284, 297, 310 And 348 Of 2019 - - - Dated:- 18-7-2019 - Justice S.J. Mukhopadhaya, Chairperson And Kanthi Narahari, Technical Member Joshua Samuel and Rajat Agnihotri, Advs. for the Appellant. P.V. Dinesh, R.S. Lakshman and Ashwini Kumar Singh, Advs. for the Respondent. ORDER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... India'. 2. The Appellant filed separate application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 ('I B Code' for short) before the Adjudicating Authority (National Company Law Tribunal), Bengaluru Bench, Bengaluru, which having rejected by common order dated 30th January, 2019, these appeals have been preferred by common Appellant-'Power Grid Corporation of In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the decision of the liquidator under Section 42 of the 'I B Code'. 5. So far as pendency of the arbitration proceeding is concerned, after liquidation it is open to the Arbitral Tribunal to proceed in the arbitration. However, we are not inclined to express any opinion with regard to the same. We are of the view that if the claim is filed by the 'Corporate Debtor'- 'Deepak ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... atters. If that be so, the arbitration proceeding will be decided by the decision of the Hon'ble High Court of Delhi. However, the pendency of the case before the Hon'ble High Court is not to come in the way of the liquidator to decide the claim in terms of the aforesaid provision as noticed above. 8. We make it clear that we have not expressed any opinion with regard to the claim of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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