The appeal arises from a judgment of the High Court at Calcutta, which overturned a Single Judge's decision regarding an interim arbitral award. The core issue revolves around a counterclaim raised by the respondent in arbitration proceedings, which was not presented during the Corporate Insolvency Resolution Process (CIRP) of the appellant.
Respondent floated an e-tender on 15th February, 2017.
Appellant was admitted into Corporate Insolvency Resolution Process on 17th September, 2020.
Appellant invoked the arbitration clause vide a notice dated 31st December, 2021.
National Company Law Tribunal, Indore accepted the resolution plan on 13th October, 2023.
Appellant filed an application under Section 16 of the Arbitration and Conciliation Act, 1996.
The Tribunal rejected the counterclaim vide an interim arbitral award on 30th April, 2024.
A Single Judge of the High Court dismissed the challenge to the interim award on 21st August, 2024.
The Division Bench of the High Court directed the Tribunal to continue the arbitral proceedings.
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Respondent flo…
Appellant was admitted…
The appeal arises from a judgment of the High Court at Calcutta, which overturned a Single Judge's decision regarding an interim arbitral award. The core issue revolves around a counterclaim raised by the respondent in arbitration proceedings, which was not presented during the Corporate Insolvency Resolution Process (CIRP) of the appellant.
Respondent floated an e-tender on 15th February, 2017.
Appellant was admitted into Corporate Insolvency Resolution Process on 17th September, 2020.
Appellant invoked the arbitration clause vide a notice dated 31st December, 2021.
National Company Law Tribunal, Indore accepted the resolution plan on 13th October, 2023.
Appellant filed an application under Section 16 of the Arbitration and Conciliation Act, 1996.
The Tribunal rejected the counterclaim vide an interim arbitral award on 30th April, 2024.
A Single Judge of the High Court dismissed the challenge to the interim award on 21st August, 2024.
The Division Bench of the High Court directed the Tribunal to continue the arbitral proceedings.
Respondent flo…
Appellant was admitted…