1999 (10) TMI 586

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ere is no decree in terms of the award. That is no doubt correct. However, the executability is dependent upon the time for filing an application under section 34 of the Arbitration and Conciliation Act, 1996 ('the Act') to set aside the award having expired and in the event of that application having been filed within that time allowed under the law for setting aside the award, such application h....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of the allegation of its inability to pay the debts is subject to the contingency of the award obtained by the claimants being upheld and thus exists the possibility of the award being set aside. 4. It is therefore prudent to await the outcome of the original petition filed for setting aside the award. The company court will be slow in winding up companies which have legal personalities by vir....