# In the matter of Soril Infra Resources Ltd. C.P No. (IB)-22 (PB)-2017

> NCLT judgment dated 2017-03-24. Citation: TCN-2017-NCLT-00943. The case involves an application filed by Annapurna Infrastructure Pvt. Ltd. & Ors. (the…

- **Court:** NCLT
- **Order date:** 24 Mar 2017
- **Citation:** TCN-2017-NCLT-00943
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/soril-infra-resources-ltd-cp-no-ib-22-pb-2017-6d4e378e

## Summary

### Background

The case involves an application filed by Annapurna Infrastructure Pvt. Ltd. & Ors. (the applicants) under Section 9 of the Insolvency and Bankruptcy Code, 2016 (the Code) to initiate the Corporate Insolvency Resolution Process against M/s SORIL Infra Resources Limited (the respondent). The applicants claim to be operational creditors based on an arbitral award in their favor for unpaid rent and damages. The respondent disputes the existence of an operational debt, citing a pending appeal against the arbitral award and ongoing execution proceedings before the Delhi High Court.

## Facts

Annapurna Infrastructure Pvt. Ltd. & Ors. (applicants) filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate Corporate Insolvency Resolution Process against SORIL Infra Resources Limited (respondent). The applicants based their claim on an arbitral award dated 09-09-2016, which granted them Rs. 2,67,52,283/- for rent from 01-04-2008 to 22-03-2010 with 12% interest, and Rs. 1,11,56,145/- for damages. The respondent challenged the award under Section 34 of the Arbitration and Conciliation Act, 1996, but the application was dismissed on 19-12-2016. The applicants issued a demand notice on 13-01-2017 under Section 8 of the Code. The respondent replied on 27-01-2017, disputing the operational debt and stating that an appeal under

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## Issues and analysis

### Issue 1: Whether the existence of a pending appeal under Section 37 of the Arbitration Act against an …

**Ratio:** The pendency of an appeal against an arbitral award constitutes a 'dispute' under Section

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**Reasoning:** The court reasoned that the definition of 'dispute' under Section 5(6) of the Code

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**Interpretation:** The court interpreted the term 'dispute' broadly to include any ongoing legal

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**Application:** In this case, the court applied the ratio to the facts by holding that the

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## Parties

- **Judges:** CHIEF JUSTICE…; Sh.R. Varad…
- **Appellants:** Annapurna…
- **Respondents:** Soril Infra…

## Timeline

- **2005-11-23 — Lease Dee…**: Date of the lease deed between the applicants and respondents, which led to disputes…
- **2016-09-09 — Arbitral…**: The arbitrator passed an award in favor of the applicants, granting them Rs.…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 9 — Application for initiation of corporate insolvency…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-9)

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