https://www.taxtmi.com/caselaws?id=757639 An NCLAT clarification on an IL&FS-related arbitral award held that the order dated 26.05.2022 was limited to opening the sealed cover and communicating the award, and did not lift the earlier restraint on enforcement. The pre-existing interim order of 15.10.2018 had stayed institution or continuation of proceedings against IL&FS group entities, and that restraint continued because the later order expressly left all contentions and future remedies open under law. The clarification therefore confirmed that the 26.05.2022 order did not authorise enforcement of the award or vary the earlier injunction. en-us Wed, 28 Aug 2024 00:00:00 +0530 Fri, 30 Aug 2024 08:37:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757639 An NCLAT clarification on an IL&FS-related arbitral award held that the order dated 26.05.2022 was limited to opening the sealed cover and communicating the award, and did not lift the earlier restraint on enforcement. The pre-existing interim order of 15.10.2018 had stayed institution or continuation of proceedings against IL&FS group entities, and that restraint continued because the later order expressly left all contentions and future remedies open under law. The clarification therefore confirmed that the 26.05.2022 order did not authorise enforcement of the award or vary the earlier injunction. Case-Laws Insolvency and Bankruptcy Wed, 28 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757639