2019 (12) TMI 1488

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...., Justice Bansi Lal Bhat, Member (Judicial) And Justice Venugopal M., Member (Judicial) For Appellant: Mr. Sanjeev Pathak, Advocate. For Respondent: None ORDER 'HDFC Bank Ltd.' moved application under Section 7 of the Insolvency and Bankruptcy Code, 2016 for initiation of Corporate Insolvency Resolution Process against 'M/s Bhawan Das Auto Finance Ltd.' (Corporate Debtor). The Adjudica....

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....was passed by the Hon'ble Sole Arbitrator on 31st March, 2017. Therein apart from the amount of Rs. 7,00,88,809.56/- the Arbitral Tribunal awarded interest @ 18% from the date of award till date of payment by the Respondent or realization thereof. Therefore, if the Appellant intends to rely on the award, we hold that there is no default and thereon application under Section 7 is not maintainable. ....