https://www.taxtmi.com/caselaws?id=422499 A pending insolvency petition does not, by itself, bar reference of disputes to arbitration or appointment of an arbitral tribunal under Section 11 of the Arbitration and Conciliation Act, 1996. Insolvency proceedings acquire precedence only after admission of the petition and commencement of moratorium; until then, there is no embargo on invoking arbitration where the contract contains an arbitration clause and live reciprocal monetary claims exist. An objection that the party should first have sought Section 8 relief in the insolvency proceedings was rejected, and unilateral appointment of an arbitrator was held impermissible. The Court appointed a sole arbitrator to decide the disputes and any counterclaims. en-us Fri, 13 May 2022 00:00:00 +0530 Mon, 16 May 2022 18:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422499 A pending insolvency petition does not, by itself, bar reference of disputes to arbitration or appointment of an arbitral tribunal under Section 11 of the Arbitration and Conciliation Act, 1996. Insolvency proceedings acquire precedence only after admission of the petition and commencement of moratorium; until then, there is no embargo on invoking arbitration where the contract contains an arbitration clause and live reciprocal monetary claims exist. An objection that the party should first have sought Section 8 relief in the insolvency proceedings was rejected, and unilateral appointment of an arbitrator was held impermissible. The Court appointed a sole arbitrator to decide the disputes and any counterclaims. Case-Laws Insolvency and Bankruptcy Fri, 13 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422499