M/s Vijay Nirman Company Pvt. Ltd. (Respondent) entered into a sub-Contract Agreement with M/s Ksheerabad Constructions Pvt. Ltd. (KCPL) on 2008-02-01. Disputes arose, leading to an Arbitral Tribunal award on 2017-01-21 favoring the Respondent. The Respondent sent a notice to KCPL under Section 8 of the Insolvency and Bankruptcy Code (IBC) on 2017-02-06. KCPL disputed the invoice, citing the arbitration proceeding. KCPL filed a Section 34 petition under the Arbitration and Conciliation Act, 1996, challenging the award. A Section 9 petition under the IBC was filed on 2017-07-14. The NCLT admitted the Section 9 petition, and the Appellate Tribunal upheld this decision, stating Section 238 of the IBC overrides the Arbitration Act.
M/s Vijay Nirman Company Pvt. Ltd. (VNCPL) entered into a sub-contract agreement with M/s Ksheerabad Constructions Pvt. Ltd. (KCPL) on 2008-02-01. Disputes arose, leading to arbitration. An arbitral award was delivered on 2017-01-21, favoring VNCPL for Rs. 1,71,98,302/-. VNCPL sent a notice to KCPL on 2017-02-06 under Section 8 of the IBC for Rs. 1,79,00,166/-. KCPL disputed the invoice on 2017-02-16, citing the ongoing arbitration. KCPL filed a Section 34 petition on 2017-04-20 challenging the award. VNCPL filed a Section 9 petition under the IBC on 2017-07-14. The NCLT admitted the Section 9 petition on 2017-08-29, and the Appellate Tribunal upheld this decision. KCPL had also filed counterclaims in the arbitration, which were rejected. The relevance of the facts
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M/s Vijay Nirman Company Pvt. Ltd.…
Arbitral Tribunal…
M/s Vijay Nirman Company Pvt. Ltd. (Respondent) entered into a sub-Contract Agreement with M/s Ksheerabad Constructions Pvt. Ltd. (KCPL) on 2008-02-01. Disputes arose, leading to an Arbitral Tribunal award on 2017-01-21 favoring the Respondent. The Respondent sent a notice to KCPL under Section 8 of the Insolvency and Bankruptcy Code (IBC) on 2017-02-06. KCPL disputed the invoice, citing the arbitration proceeding. KCPL filed a Section 34 petition under the Arbitration and Conciliation Act, 1996, challenging the award. A Section 9 petition under the IBC was filed on 2017-07-14. The NCLT admitted the Section 9 petition, and the Appellate Tribunal upheld this decision, stating Section 238 of the IBC overrides the Arbitration Act.
M/s Vijay Nirman Company Pvt. Ltd. (VNCPL) entered into a sub-contract agreement with M/s Ksheerabad Constructions Pvt. Ltd. (KCPL) on 2008-02-01. Disputes arose, leading to arbitration. An arbitral award was delivered on 2017-01-21, favoring VNCPL for Rs. 1,71,98,302/-. VNCPL sent a notice to KCPL on 2017-02-06 under Section 8 of the IBC for Rs. 1,79,00,166/-. KCPL disputed the invoice on 2017-02-16, citing the ongoing arbitration. KCPL filed a Section 34 petition on 2017-04-20 challenging the award. VNCPL filed a Section 9 petition under the IBC on 2017-07-14. The NCLT admitted the Section 9 petition on 2017-08-29, and the Appellate Tribunal upheld this decision. KCPL had also filed counterclaims in the arbitration, which were rejected. The relevance of the facts
…M/s Vijay Nirman Company Pvt. Ltd.…
Arbitral Tribunal…