TMI Blog2020 (10) TMI 6X X X X Extracts X X X X X X X X Extracts X X X X ..... t given the moratorium that is imposed, no arbitration proceedings could go on - HELD THAT:- The mandate of the new Insolvency Code is that the moment an insolvency petition is admitted, the moratorium that comes into effect under Section 14(1) (a) expressly interdicts institution or continuation of pending suits or proceedings against Corporate Debtors - This being the case, we are surprised that an arbitration proceeding has been purported to be started after the imposition of the said moratorium and appeals under Section 37 of the Arbitration Act are being entertained. Therefore, we set aside the order of the District Judge dated 06.07.2017 and further state that the effect of Section 14(1) (a) is that the arbitration that has been inst ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d after the commencement of CIRP within three weeks. In respect of the claim prior to period of commencement of CIRP, the State GST may consider following the provisions of IBC, 2016 and filing their claim with the Resolution Professional in accordance with law. IA No. 40/JPR/2018 stands disposed off. IA No. 313 314/JPR/2019: - Heard the submissions made by the counsels for both the parties. Order in this matter is reserved. IA NO. 74/JPR/2020:- Counsel made a special mention of this matter in IA No.74/JPR/2020 because of the urgency in this matter regarding execution proceedings before the Court of learned ADJ-I, Behror, Alwar directing the Corporate Debtor to pay an amount of ₹ 7,08,358/-. It is submitted by the counse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , Principal Bench, New Delhi. As a result, the moratorium that is imposed by Section 14 came into effect on that date and Respondent No.3 has been appointed as the Interim Resolution Professional (IRP). A Writ Petition was filed against this order, which was admitted only to the extent of the challenge to the vires of the Insolvency Code, is pending. A Special Leave Petition against this order was dismissed on 26.04.2017. Meanwhile, despite the moratorium, a letter was issued by Respondent No. 1 to Respondent No. 2 invoking the arbitration clause between the parties and Shri Pankaj Garg, an Advocate, was appointed as Sole Arbitrator. Shri Garg entered upon the reference. In an other order dated 31.05.2017, the National Company Law Tribunal, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the proceedings under the Insolvency Code which are strictly time bound. We quash this proceeding. 8) As a result, the appeal is allowed and the steps that have to be taken under the Insolvency Code will continue unimpeded by any order of any other Court. The ratio decidendi of the Hon'ble Supreme Court is binding on all subordinate authorities of the State vide Articles 141 144 of the Constitution of India. Thus, the order passed by the Court of Learned ADJ-I is still-born and a nullity in law and cannot stand in view of the foregoing factual narrative and the provisions of law as enunciated in this order and consequently stands invalidated. The native Court Officer is directed not to take any coercive steps or act again ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
