Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2015 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (3) TMI 583 - KARNATAKA HIGH COURTPermission of filing arbitration proceedings when company in liquidation - Objection statement by Official Liquidator - Held that:- Even assuming for a moment that leave is granted to raise the arbitration proceedings and if an award is passed in favour of the applicant, even then the applicant cannot be granted leave to execute such award independent of the liquidation proceedings. The applicant can only lodge its claim with the Official Liquidator based on the award that may be passed in their favour. If this aspect of the matter is kept in view, certainly, the contention putforth on behalf of the Official Liquidator that the expenses of the arbitration proceedings should not be burdened on the company in liquidation merits consideration. Therefore, instead of granting leave to proceed with the arbitration, I am of the opinion, it would be appropriate to permit the applicant to lodge its claim before the Official Liquidator. - Decided against the appellant.
|