Search Results for: limitation of arbitration

ARBITRATION: AN OVERVIEW

In arbitration, whenever a civil dispute arises between two or more parties it is referred to the sole arbitrator or tribunal or three or more arbitrators, which always will be in odd numbers.

Supreme Court extends ‘Limitation Period’ amid COVID-19 Crisis 

The timelines prescribed under the Limitation Act or different laws like Insolvency and Bankruptcy Code, 2016, the Arbitration Act, 1996 or any other action will stand extended.

Understanding the interpretation of the Insolvency and Bankruptcy Code, 2016

Interpreting the Insolvency and Bankruptcy Code 2016 and sheds light on its significance in shaping the insolvency and bankruptcy landscape in India.

FUTURE OF MEDIATION IN INSOLVENCY PROCEEDINGS

Being the least expensive and less time-consuming, Mediation is popular ADR in India. The mediator plays the role of a neutral party who helps the parties to have direct communication and assists in exploring the options and a mutually accepted agreement.

An Operational Creditor with an Arbitral Award can proceed as a Decree Holder

The National Company Law Tribunal has paved the way for operational creditors to revive their debt and proceed as decree holder.

Further litigation/alternative remedy cannot be pursued by creditors whose claim is taken into consideration within resolution plan

The Appellants cannot be permitted to pursue alternative remedy of suit/arbitration proceeding even if pending as Resolution Plan is binding on all the stakeholders.

Significance of Submitting demand notice by operational creditor before filing application under Section 9 of IBC

As per section 8 of IBC an operational creditor, if does not receive amount from corporate debtor, has to deliver a demand notice of unpaid amount along with the copy of invoice demanding payment of the amount involved.

Demand Notice significant for admission of application under section 9 of IBC

In the absence of specific evidence relating to invoices actually forwarded by the appellant and there being a doubt, the insolvency petition cannot be entertained under section 9 of IBC.

Mobilox v Kirusa- Supreme Court interprets ‘existence of dispute’ as per IBC

The Supreme Court of India in Mobilox Innovations Private Limited v Kirusa Software Private Limited has finally settled the widely debated question of what constitutes “existence of a dispute”.