# In the matter of Ankhim Holdings Pvt. Ltd. and Anr. v. Zaveri Construction Pvt. Ltd.

> SC judgment dated 2026-02-04. Citation: TCN-2026-SC-00012. The appeal arises from a judgment by the Bombay High Court regarding a Commercial Arbitration…

- **Court:** SC
- **Order date:** 4 Feb 2026
- **Citation:** TCN-2026-SC-00012
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/supreme-court-of-india/ankhim-holdings-pvt-ltd-and-anr-v-zaveri-construction-pvt-ltd-7800e42c

## Summary

### Background

The appeal arises from a judgment by the Bombay High Court regarding a Commercial Arbitration Petition. The High Court substituted an arbitrator but ruled that proceedings during a moratorium period were null. The appellants challenged this ruling.

## Facts

Appellants and Respondent entered into a partnership firm named “M/s Anmol Alliance” to develop and construct an SRA project.

Disputes arose between the appellants and the respondent, leading to Commercial Arbitration Petition No.347/2019.

The Bombay High Court passed an order on 09.07.2019 accepting the minutes of order recording them as consent terms.

The High Court appointed Hon'ble Mr. Justice J.N. Patel as the Arbitrator.

NCLT Mumbai passed an order on 26.09.2019 admitting the respondent to CIRP and imposing a moratorium under Section 14 of the IBC.

The High Court passed an order on 15.03.2022 finding that the Interim Resolution Professional had become functus officio.

…

## Issues and analysis

### Issue 1: Whether the High Court was justified in declaring the arbitral proceedings undertaken during the …

**Ratio:** The Supreme Court held that the High

…

**Reasoning:** The Supreme Court reasoned that Section 15 of the Arbitration and Conciliation Act, 1996,

…

**Interpretation:** The interpretation of Section 15(2) is that the power to appoint a substitute

…

**Application:** The Supreme Court applied this interpretation to the facts of the case, finding

…

## Parties

- **Judges:** J.B. PARD…; K.V. VISWA…
- **Appellants:** ANKHIM HOLDINGS…
- **Respondents:** ZAVERI CONSTRUCTIO…
- **Other parties:** CoC…; Liquid…; +1 more
- **Advocates:** Ashim…; Sanjay…; +1 more

## Timeline

- **2019-07-09 — Bombay High Co…**: High Court passed an order accepting the minutes…
- **2019-09-26 — NCLT Ord…**: NCLT Mumbai passed an order admitting the respondent to CIRP and imposing a moratorium…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 14 — Moratorium](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-14)

---

This is a preview. The full structured summary, issues, precedents and source judgment are available on CaseEase - Legal Intelligence Simplified: https://caseease.in/cases/ibc/supreme-court-of-india/ankhim-holdings-pvt-ltd-and-anr-v-zaveri-construction-pvt-ltd-7800e42c