The case involves an application (IA(IBC)/485(CHE)/2021) filed in IBA/838(CHE)/2019 by the liquidator of STT Limited, seeking to quash an arbitration order and restrain arbitration proceedings against the corporate debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against STT Limited on 2019-08-30, and the applicant was appointed as the Interim Resolution Professional, later confirmed as the Resolution Professional. The company was ordered for liquidation on 2019-12-10. The 4th respondent, NTPC Limited, had entered into a contract with STT Limited, and disputes led to arbitration proceedings. The applicant sought to suspend these proceedings due to financial difficulties and the liquidation order.
STT Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated on 2019-08-30. P. Sriram was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Subsequently, the company was ordered for liquidation on 2019-12-10. NTPC Limited, the 4th respondent, had a contract with STT Limited, leading to arbitration proceedings. The liquidator sought to suspend the arbitration due to STT Limited's financial difficulties and the liquidation order. The arbitration tribunal passed an order on 2021-02-05 for continuation of arbitral proceedings. The 4th respondent's claim before the liquidator was dismissed, and they did not appeal. The liquidator filed IA(IBC)/485(CHE)/2021 to quash the arbitration order and restrain the
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NTPC Limited and STT Limited entered into an…
Disputes arose between…
The case involves an application (IA(IBC)/485(CHE)/2021) filed in IBA/838(CHE)/2019 by the liquidator of STT Limited, seeking to quash an arbitration order and restrain arbitration proceedings against the corporate debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against STT Limited on 2019-08-30, and the applicant was appointed as the Interim Resolution Professional, later confirmed as the Resolution Professional. The company was ordered for liquidation on 2019-12-10. The 4th respondent, NTPC Limited, had entered into a contract with STT Limited, and disputes led to arbitration proceedings. The applicant sought to suspend these proceedings due to financial difficulties and the liquidation order.
STT Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated on 2019-08-30. P. Sriram was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. Subsequently, the company was ordered for liquidation on 2019-12-10. NTPC Limited, the 4th respondent, had a contract with STT Limited, leading to arbitration proceedings. The liquidator sought to suspend the arbitration due to STT Limited's financial difficulties and the liquidation order. The arbitration tribunal passed an order on 2021-02-05 for continuation of arbitral proceedings. The 4th respondent's claim before the liquidator was dismissed, and they did not appeal. The liquidator filed IA(IBC)/485(CHE)/2021 to quash the arbitration order and restrain the
…NTPC Limited and STT Limited entered into an…
Disputes arose between…