Axalta Coating Systems Pvt Ltd v. R Square Shri Sai Baba Abhikaran Pvt Ltd

Digitally signed by PRASHANT VILAS RANE Date:

2022.06.17 14:59:21 +0530 PRASHANT VILAS RANE pvr 13arbap56-20

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION ARBITRATION APPLICATION NO.56 OF 2020 Axalta Coating System Pvt.Ltd.

...Applicant Vs.

R.Square Shri.Sai Baba Abhikaran Pvt.Ltd.

...Respondent

----- Mr.Harshvardhan G.Khambete, for the Applicant. ----- CORAM :

G.S. KULKARNI, J.

DATE :

13 June 2022.

P.C.:

1.

It is clear from the earlier orders passed by this Court, more particularly, from the order dated 30 November 2021, that the proceedings as filed under Section 9 of the Insolvency and Bankruptcy Code,2016, by an Operational Creditor (Saiom Developer Private Ltd.), have been admitted. The proceedings appear to be pending. Learned Counsel for the applicant also does not have any instructions.

2.

In my opinion, no useful purpose would be achieved keeping this application pending. It is accordingly, disposed of with liberty to the applicant to revive the present proceedings or to file a fresh application on the same cause of action, as and when the circumstances so permit. All contentions of the parties are expressly kept open.

3.

Disposed of. No Costs.

[G.S. KULKARNI, J.]