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TMI Blog2023 (9) TMI 82X X X X Extracts X X X X X X X X Extracts X X X X ..... f 2023 (Condone Delay Application). 1) According to the 'Petitioner'/'Appellant', the 'Impugned Order' in I.A./239/2022 in CP (IB)/154/BB/2017 was passed by the 'Adjudicating Authority'/'National Company Law Tribunal, Bengaluru Bench, on 25.05.2023 and the 'Limitation period' for preferring an 'Appeal' had lapsed on 24.06.2023. 2) The reason for delay in preferring the instant 'Appeal' as projected by the 'Petitioner'/'Appellant' in IA/846/2023 in Company Appeal (AT) (CH) (Ins) No.274 of 2023 is that the 'Petitioner'/'Appellant' Learned Counsel was suffering from high fever from 22.06.2023 to 29.06.2023 and further that the 'Tribunal' was closed due to 'Summer Holidays' till 02.07.2023. 3) Further, it is represented on behalf of the 'Pet ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Aggrieved person and submit that the 'Impugned Order' suffers from serious legal infirmity in the 'eye of Law'. 3) The 'Appellant' is an 'Interstate Transmission Licencee' (a Company registered under the Companies Act, 1956, is a Govt. of Sikkim Enterprise) that apart, the 'Appellant' is a 'Joint Venture' of M/s. Teesta Urja Limited ("TUL"), a Govt. of Sikkim Enterprise, having 69.08% stake and M/s. Powergrid Corporation of India Limited ("PGCIL"), a Govt. of India Enterprise having 30.92% stake in the 'Appellant Company'. 4) According to the 'Appellant', it had implemented 215 KM 400 kV D/C transmission line form Teesta - III HEP, Sikkim to District Kishanganj, Bihar ("Project"); as a part of 'Master Plan for evacuation of power of Hydro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct, were awarded to new Contractors at the risk of cost of DCIL/AIPL JV/Consortium. 8) It is brought to the fore that on 25.07.2014, the 'Appellant appointed its 'Nominee Arbitrator' and claimed Rs.517 Crores and that two 'Nominee Arbitrators', appointed the 'Presiding Arbitrator' during September, 2014. 9) In this connection, the Learned Counsel for the 'Appellant' points out that the issue of 'Termination of Contract' was dealt with by the Hon'ble Single Bench and Division Bench of Hon'ble High Court of Delhi in its order dated 03.09.2014 in Petition No. OMP No.557 of 2014 & I.A. No. 10888 of 2014 and Judgment dated 15.09.2014 passed in Appeal No. FAO (OS) No. 397 of 2014 and 398 of 2014 respectively it is observed as under:- "Para - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... '/'Tribunal' should have directed that 'maintainability of the claims', raised by the 'Appellant' would be subjected to the outcome of the 'Arbitral Proceedings' between the parties. Furthermore, it is the stand of the 'Appellant' pendency of 'Liquidation Proceedings' against the 'Corporate Debtor' cannot legally extinguish claims or disputes between the parties which are pending 'adjudication' before the 'Arbitration Tribunal' or a 'Court of Law'. 13) The other contention put forth on the side of the 'Appellant' is that the 'Adjudicating Authority'/'Tribunal' had failed to appreciate that the 'Arbitral Proceedings' between the 'Corporate Debtor' and the 'Appellant' were pending from the year 2014. Insolvency Proceedings came to be initiat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll be open to the Appellant to take such remedy as permissible under the law and impugned order shall not be come in his way in execution of the Arbitral Award." and dismissed the instant 'Appeal'. 17) Be that as it may, this 'Tribunal', on going through the 'Impugned Order' dated 25.05.2023 in IA/239/2022 in CP(IB) No.154/BB/2017 passed by the 'Adjudicating Authority'/'Tribunal' is of the considered view that the 'Adjudicating Authority'/'Tribunal' based on the facts and circumstances of the instant case and also keeping in mind of the 'Order' in Company Appeal (AT) (Ins) No.28 of 2022 to the effect that if the 'Arbitration Proceedings' result in any award in favour of the 'Appellant', it shall be open to the 'Appellant' to take such rem ..... X X X X Extracts X X X X X X X X Extracts X X X X
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