The application was filed under Section 8 of the Arbitration and Conciliation Act, 1996, read with Rule 11 of the NCLT Rules, 2016, seeking to refer the matter to an Arbitral Tribunal. The applicant, M/s. Virgo Properties Private Limited, is the financial creditor, and the respondent, M/s. L&T Finance Limited, is the corporate debtor.
M/s. Virgo Properties Private Limited, the applicant and financial creditor, filed an application to refer a dispute to an Arbitral Tribunal. This application was made under Section 8 of the Arbitration and Conciliation Act, 1996, read with Rule 11 of the NCLT Rules, 2016. The dispute arose from a Loan Agreement dated June 23, 2017, between the applicant and M/s. L&T Finance Limited, the respondent and corporate debtor. The applicant invoked the arbitration clause (Clause 17.10) in the Loan Agreement by sending a Notice of Arbitration on November 12, 2021. Due to a disagreement over the arbitrator's appointment, the applicant approached the High Court under Section 11 of the Arbitration and Conciliation Act, 1996. Concurrently, the respondent also sought
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Loan Agreement entered…
Applicant invoked Clause 17.10 (Arbitration…
The application was filed under Section 8 of the Arbitration and Conciliation Act, 1996, read with Rule 11 of the NCLT Rules, 2016, seeking to refer the matter to an Arbitral Tribunal. The applicant, M/s. Virgo Properties Private Limited, is the financial creditor, and the respondent, M/s. L&T Finance Limited, is the corporate debtor.
M/s. Virgo Properties Private Limited, the applicant and financial creditor, filed an application to refer a dispute to an Arbitral Tribunal. This application was made under Section 8 of the Arbitration and Conciliation Act, 1996, read with Rule 11 of the NCLT Rules, 2016. The dispute arose from a Loan Agreement dated June 23, 2017, between the applicant and M/s. L&T Finance Limited, the respondent and corporate debtor. The applicant invoked the arbitration clause (Clause 17.10) in the Loan Agreement by sending a Notice of Arbitration on November 12, 2021. Due to a disagreement over the arbitrator's appointment, the applicant approached the High Court under Section 11 of the Arbitration and Conciliation Act, 1996. Concurrently, the respondent also sought
…Loan Agreement entered…
Applicant invoked Clause 17.10 (Arbitration…