The arbitration application was also not relevant for IBC Section 9 proceedings, since, the arbitration application was filed by Corporate Debtor much after the initiation of proceedings under Section 9 – Balasore Alloys Ltd. Vs. MSTC Ltd. – NCLAT New Delhi

Hon’ble NCLAT held that:

(i) The observation of the Hon’ble Supreme Court in order dated 28.11.2023 as noted above, clearly indicate that arbitration order passed in the arbitration proceedings shall not affect proceedings in Section 9 Application under the Code, which was filed by the Operational Creditor.
(ii) The arbitration application, on which order dated 13.09.2023 was passed, was also not relevant for Section 9 proceedings, since, the arbitration application was filed by Corporate Debtor before the High Court on 31.08.2023, i.e., much after the initiation of proceedings under Section 9.

The arbitration application was also not relevant for IBC Section 9 proceedings, since, the arbitration application was filed by Corporate Debtor much after the initiation of proceedings under Section 9 – Balasore Alloys Ltd. Vs. MSTC Ltd. – NCLAT New Delhi Read Post »