The present petition challenges an order dated September 7, 2024, passed by the Arbitral Tribunal in ongoing arbitration proceedings between Lalit Mohan (Petitioner) and M/S. National Agricultural Co. Federation of India Ltd. (NAFED) (Respondent). The Arbitral Tribunal's order addressed an adjournment request and the feasibility of signing the award while keeping it in abeyance pending a decision on the Respondent's application. The Petitioner argues that the order violates Section 96 of the Insolvency and Bankruptcy Code (IBC) regarding moratorium on legal proceedings once insolvency proceedings are initiated.
Lalit Mohan (Petitioner) initiated a writ petition challenging an order dated September 7, 2024, passed by the Arbitral Tribunal in arbitration proceedings with M/S. National Agricultural Co. Federation of India Ltd. (NAFED) (Respondent). The Arbitral Tribunal's order concerned an adjournment request and the potential signing of an award, held in abeyance pending a decision on the Respondent's application. During the arbitration, personal insolvency proceedings were initiated against the Petitioner under Section 94 of the Insolvency and Bankruptcy Code, 2016, before the NCLT. The Petitioner sought a moratorium on the arbitration proceedings based on Section 96 of the IBC. The Arbitral Tribunal acknowledged the insolvency proceedings but considered signing the award
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The Arbitral Tribunal passed an order…
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The present petition challenges an order dated September 7, 2024, passed by the Arbitral Tribunal in ongoing arbitration proceedings between Lalit Mohan (Petitioner) and M/S. National Agricultural Co. Federation of India Ltd. (NAFED) (Respondent). The Arbitral Tribunal's order addressed an adjournment request and the feasibility of signing the award while keeping it in abeyance pending a decision on the Respondent's application. The Petitioner argues that the order violates Section 96 of the Insolvency and Bankruptcy Code (IBC) regarding moratorium on legal proceedings once insolvency proceedings are initiated.
Lalit Mohan (Petitioner) initiated a writ petition challenging an order dated September 7, 2024, passed by the Arbitral Tribunal in arbitration proceedings with M/S. National Agricultural Co. Federation of India Ltd. (NAFED) (Respondent). The Arbitral Tribunal's order concerned an adjournment request and the potential signing of an award, held in abeyance pending a decision on the Respondent's application. During the arbitration, personal insolvency proceedings were initiated against the Petitioner under Section 94 of the Insolvency and Bankruptcy Code, 2016, before the NCLT. The Petitioner sought a moratorium on the arbitration proceedings based on Section 96 of the IBC. The Arbitral Tribunal acknowledged the insolvency proceedings but considered signing the award
…The Arbitral Tribunal passed an order…
The High Court…