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2019 (12) TMI 1377 - NATIONAL COMPANY LAW TRIBUNAL , CHANDIGARH BENCHTermination of tender - imposition of penalties - forfeiture of performance of bank guarantee, security amount, and penalty towards risk and purchase cost - Section 42 of the Insolvency and Bankruptcy Code, 2016 (Code) read with Rule 11 of the NCLT Rules, 2016 - HELD THAT:- Admittedly, the CIRP proceedings in respect of the respondent company were initiated and moratorium was declared by an order of this Tribunal passed on 06.07.2017. As on the said date, the common award dated 29.06.2015 passed by the Sole Arbitrator Mr. Yad Ram Meena holding that the applicant is liable to pay an amount of ₹ 7,72,86,109/- with 18% interest per annum on the said amount w.e.f. the date of filing of the arbitration till actual payment was in force as the objections filed by both the sides were dismissed and the said common award was upheld by the Commercial Court, Jaipur vide its common order dated 28.09.2016, though two separate appeals were filed by the applicant, which were pending before the Hon'ble High Court of Rajasthan. Further, admittedly on 10.05.2018, on which date the Hon'ble Rajasthan High Court, Jaipur Bench passed a judgment in the appeals preferred by the applicant, quashing the judgment of the Commercial Court, Jaipur as well as the arbitration award, the moratorium declared under Section 14 of the Code was very much in operation and the said moratorium finally came to an end only on 17.05.2018 on which date, this Tribunal passed the order of liquidation of the respondent company. It is the settled principle of law that any order passed or any action taken in respect of any of the issues covered under Section 14 of the Code, during the period of moratorium are non-est in the eye of law. Since the order dated 10.05.2018 passed in the appeals filed by the applicant, was admittedly passed during the moratorium period, the applicant's claim which was based on the said order dated 10.05.2018, is inadmissible - Appeal dismissed.
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