The case involves a civil appeal arising out of a Special Leave Petition. A petition was filed under the Insolvency and Bankruptcy Code, 2016, and was admitted by the National Company Law Tribunal (NCLT), Principal Bench, New Delhi on 31.03.2017. A moratorium was imposed under Section 14 of the Insolvency and Bankruptcy Code. Despite the moratorium, the Respondent No.1 issued a letter to Respondent No.2 invoking the arbitration clause, and an arbitrator was appointed. The NCLT stated that no arbitration proceedings could continue given the moratorium. A First Appeal was filed before the District Judge, Jaisalmer, Rajasthan under Section 37 of the Arbitration and Conciliation Act, 1996, and the appeal was asked to be registered.
Alchemist Asset Reconstruction Company Ltd. filed a petition under the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 31.03.2017 by the NCLT, leading to a moratorium under Section 14. Despite the moratorium, Hotel Gaudavan Pvt. Ltd. invoked arbitration. The NCLT stated that no arbitration could proceed due to the moratorium. A First Appeal was filed before the District Judge, Jaisalmer. A criminal proceeding (F.I.R. No. 0605 dated 06.08.2017) was initiated, allegedly to obstruct the IRP. The key fact is the conflict between the moratorium under the IBC and the attempt to initiate/continue arbitration proceedings. The criminal proceeding is also a relevant fact, indicating an attempt to undermine the insolvency process.
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The National Company Law Tribunal (NCLT)…
A moratorium was…
The case involves a civil appeal arising out of a Special Leave Petition. A petition was filed under the Insolvency and Bankruptcy Code, 2016, and was admitted by the National Company Law Tribunal (NCLT), Principal Bench, New Delhi on 31.03.2017. A moratorium was imposed under Section 14 of the Insolvency and Bankruptcy Code. Despite the moratorium, the Respondent No.1 issued a letter to Respondent No.2 invoking the arbitration clause, and an arbitrator was appointed. The NCLT stated that no arbitration proceedings could continue given the moratorium. A First Appeal was filed before the District Judge, Jaisalmer, Rajasthan under Section 37 of the Arbitration and Conciliation Act, 1996, and the appeal was asked to be registered.
Alchemist Asset Reconstruction Company Ltd. filed a petition under the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 31.03.2017 by the NCLT, leading to a moratorium under Section 14. Despite the moratorium, Hotel Gaudavan Pvt. Ltd. invoked arbitration. The NCLT stated that no arbitration could proceed due to the moratorium. A First Appeal was filed before the District Judge, Jaisalmer. A criminal proceeding (F.I.R. No. 0605 dated 06.08.2017) was initiated, allegedly to obstruct the IRP. The key fact is the conflict between the moratorium under the IBC and the attempt to initiate/continue arbitration proceedings. The criminal proceeding is also a relevant fact, indicating an attempt to undermine the insolvency process.
The National Company Law Tribunal (NCLT)…
A moratorium was…