Operational Creditors' Insolvency Application Rejected; Arbitration Clause Enforced by NCLT and NCLAT Under IBC Section 9.

CIRP proceedings - Operational Creditors - Rejection of application u/s 9 by the NCLT and NCLAT - When the agreement entered into between the parties carries an arbitration clause and when the parties mutually consented and sought to proceed with arbitration before the High Court and further, when the arbitration proceedings are pending, we are of the view that the parties shall be left with the liberty to raise all contentions before the arbitrator, except the legal questions discussed and decided in this judgment. - SC .....

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