Does The Restoration Of An Appeal Filed Under Section 37 Of The Arbitration & Conciliation Act (1996) Constitute A Pre-Existing Dispute Under The IBC?
In M/S Jai Balaji Industries Vs. D. K. Mohanty & Anr., 2021, the Operational Creditor (OC) filed an appeal before the Supreme Court under Section 62 of Insolvency and Bankruptcy Code, 2016, (Code) against the order passed by National Company Law Appellate Tribunal, (NCLAT). NCLAT held that the Operational Debt claimed by the OC was not free from pre-existing dispute and subsequently set […]
Emergency arbitration is a concept that allows a party to apply for urgent temporary relief before an arbitration tribunal has been officially established. Simply put, emergency arbitration is a time-bound and short-term solution for parties that are not in a position to wait for the formation of the arbitral tribunal. Any emergency relief granted takes […]
In 2017, the State of West Bengal introduced the West Bengal Housing Industry Regulation Act, 2017 (“WB-HIRA”). The main objective of the Act was to regularise and promote the housing sector and to ensure the sale of plots, apartment buildings, or sale of real estate in an effective and translucent manner to protect the interest of consumers in real estate projects. After it came into existence, […]