https://www.taxtmi.com/caselaws?id=297134 Pending arbitral proceedings involving the company and its group companies may continue, but any award is to be kept in sealed cover until the petition under Sections 241 and 242 is finally decided. The order also restrains arbitral tribunals from passing interim relief under Section 17 against the company or its group companies during the pendency of the company petition, except where the award is in their favour. On the resolution side, a provisional insolvency-like framework is indicated, including possible constitution of a creditors' committee to assess viability and feasibility, while the company and its board are permitted to proceed in the meantime and the question of external supervision remains open. en-us Fri, 11 Jan 2019 00:00:00 +0530 Sat, 21 Aug 2021 08:31:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297134 Pending arbitral proceedings involving the company and its group companies may continue, but any award is to be kept in sealed cover until the petition under Sections 241 and 242 is finally decided. The order also restrains arbitral tribunals from passing interim relief under Section 17 against the company or its group companies during the pendency of the company petition, except where the award is in their favour. On the resolution side, a provisional insolvency-like framework is indicated, including possible constitution of a creditors' committee to assess viability and feasibility, while the company and its board are permitted to proceed in the meantime and the question of external supervision remains open. Case-Laws Companies Law Fri, 11 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297134