M/S Graphic Systems Pvt. Ltd., New Delhi v. M/S Golden Jubilee Hotels Ltd., Hyd

HON'BLE THE CHIEF JUSTICE SRI THOTTATHIL B. RADHAKRISHNAN ARBITRATION APPLICATION No.12 OF 2016 ORDER:

Heard the learned counsel for the applicant and the learned counsel for the respondent.

2. The respondent is now covered by the proceedings before the National Company Law Tribunal, Hyderabad. That being so, the statutory embargo contained in The Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002, precludes further proceedings in this arbitration application.

3. For the aforesaid reason, this Arbitration Application is dismissed leaving open all the issues and without prejudice to the applicant to move a fresh application under Section 11(6) of Arbitration and Conciliation Act, 1996, if, he is so advised, after the aforesaid statutory embargo would be over, and, if such proceedings become ultimately necessary. No order as to costs. Miscellaneous Applications, if any, pending stand dismissed. ______________________________________ THOTTATHIL B. RADHAKRISHNAN, CJ July 20, 2018.

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