Challenge to arbitral award is a ‘dispute’ under Insolvency Code: Supreme Court

Varun Marwah August 22 2018

Upholding the principles laid down in Mobilox Innovations, a Supreme Court bench of Justices R.F Nariman and Indu Malhotra has ruled that insolvency cannot be triggered when the corporate debtor has challenged an arbitral award passed against it.

The arbitral award in question being the debt awarded in favour of the creditor based on which insolvency is sought to be triggered.

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