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Tribunal: Arbitral award can't be enforced against IL&FS due to existing restraint orders.

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Full Text of the Document

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....Tribunal clarified that its order dated 26.05.2022 did not modify or vary the earlier orders dated 15.10.2018 and 11.01.2019, except for directing sealed cover containing arbitral award to be opened. Despite award being communicated to respondents, they cannot enforce it due to the interim direction dated 15.10.2018, affirmed on 12.03.2020, prohibiting enforcement or execution of arbitral awards against IL&FS or its group companies. The application filed by respondent seeking restraint on enforcement or execution of arbitral award was allowed.....

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