NCLT allows the Liquidator to file appropriate applications/petitions under section 34 of the Arbitration and Conciliation Act, 1996 to challenge an arbitration award – Oriental Bank of Commerce Vs. RDH Technologies Pvt. Ltd. – NCLT Kolkata Bench
June 3, 2022
The liquidator came to learn about the said Arbitral Award passed by the Sole Arbitrator in the arbitration proceedings between one Ascot Realty Pvt. Ltd. and the Corporate Debtor, when a claim was lodged with the liquidator. After examining the claim in consultation with his legal advisor, the liquidator is of the opinion that there is a good basis for challenging the impugned arbitral award. The Adjudicating Authority held that we deem it proper to grant leave to the Liquidator to file appropriate applications/petitions under section 34 of the Arbitration and Conciliation Act, 1996.