Misty Meadows Private Limited, the operational creditor, filed a Company Petition (IB) No. 139/ND/2022 against Aadi Buildwell Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The application was based on an Arbitration Award, and the primary issue for consideration was whether an application under Section 9 of the IBC is maintainable on the basis of an Arbitration Award. The matter was heard on February 24, 2022, regarding the issuance of notice. The operational creditor argued that an Arbitration Award falls under the definition of operational debt and relied on a Supreme Court decision reported in (2018)17 SCC 662

Misty Meadows Private Limited, the operational creditor, filed a Company Petition (IB) No. 139/ND/2022 against Aadi Buildwell Private Limited, the corporate debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016, read with Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016. The application was based on an Arbitration Award, and the primary issue for consideration was whether an application under Section 9 of the IBC is maintainable on the basis of an Arbitration Award. The matter was heard on February 24, 2022, regarding the issuance of notice. The operational creditor argued that an Arbitration Award falls under the definition of operational debt and relied on a Supreme Court decision reported in (2018)17 SCC 662