The applicant filed an application under Section 9 of the Arbitration and Conciliation Act, 1996, seeking a stay of arbitral proceedings until leave is obtained from the NCLT, Hyderabad, under Section 279 of the Companies Act, 2013, to proceed with the arbitration. This was due to a moratorium imposed on the 1st Respondent by NCLT, Hyderabad, followed by a liquidation order and the appointment of a liquidator.
M/s. Chennai Metro Rail Limited (Applicant) and M/s. Lanco Infratech Limited (1st Respondent) entered into a contract on September 5, 2011 , for the Design and Construction of Elevated Station at Meenambakkam, including Architectural Builders Works and Finishes (ABWF) and Building Services Work (BS) for the Chennai Airport Station, Viaducts, Ramps, and Cut-cover Tunnel. This project was designated as the ECV-07 package. A dispute arose between the parties, leading to the matter being referred to arbitration. The 1st Respondent, as the claimant, sought an aggregate sum of Rs.1,98,58,82,734/-. The Applicant, as the respondent in the arbitral proceedings, filed a counter-claim for Rs.107 Crores. After the evidence phase, a moratorium was imposed on the 1st Respondent by
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Applicant and 1st Respondent entered into a…
National Company Law…
The applicant filed an application under Section 9 of the Arbitration and Conciliation Act, 1996, seeking a stay of arbitral proceedings until leave is obtained from the NCLT, Hyderabad, under Section 279 of the Companies Act, 2013, to proceed with the arbitration. This was due to a moratorium imposed on the 1st Respondent by NCLT, Hyderabad, followed by a liquidation order and the appointment of a liquidator.
M/s. Chennai Metro Rail Limited (Applicant) and M/s. Lanco Infratech Limited (1st Respondent) entered into a contract on September 5, 2011 , for the Design and Construction of Elevated Station at Meenambakkam, including Architectural Builders Works and Finishes (ABWF) and Building Services Work (BS) for the Chennai Airport Station, Viaducts, Ramps, and Cut-cover Tunnel. This project was designated as the ECV-07 package. A dispute arose between the parties, leading to the matter being referred to arbitration. The 1st Respondent, as the claimant, sought an aggregate sum of Rs.1,98,58,82,734/-. The Applicant, as the respondent in the arbitral proceedings, filed a counter-claim for Rs.107 Crores. After the evidence phase, a moratorium was imposed on the 1st Respondent by
…Applicant and 1st Respondent entered into a…
National Company Law…