India Factoring And Finance Solutions Private Limited v. Sharon Bio-Medicine Limited And 9 ORS

CARBP79.16-27

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION COMMERCIAL ARBITRATION PETITION NO.79 OF 2016 India Factoring & Finance Solutions Pvt. Ltd.)....Petitioner V/s.

Sharon Bio-Medicine Limited & Ors.

)....Respondents ---- Mr.Sandesh Godse i/by Vivek Patil & Associates for petitioner. Mr.Vivek Kantawala a/w Mr.Amey Patil i/by Vivek Kantawala & Associates for respondent no.2.

---- CORAM : K.R.SHRIRAM,J DATE : 3.10.2017 P.C.:- This petition is filed under Section 9 of the Arbitration & Conciliation Act 1996. The petition was lodged on 29.8.2016. Counsel for petitioner states that petitioner did not even move for adinterim reliefs. Counsel also states that even today they have not even commenced any arbitration proceedings though more than a year has passed since the petition is filed. I also do not find any averment in the petition explaining as to why an order under Section 9 is required to be passed. In fact, counsel for petitioner was not even ready to go on with the matter.

Petition stands dismissed.

Mr.Kantawala appearing for respondent no.2 states that on a petition filed by this petitioner, Company Petition No.580 of 2015 KJ

CARBP79.16-27 was admitted against respondent no.1. Moreover, the National Company Law Tribunal, Mumbai Bench in a petition filed under Section 7 of the Insolvency and Bankruptcy (Application to Adjudicating Authority), Rule 2016 filed by one Culrross Opportunities SP & Peter Beck & Partners, has admitted the petition against the respondent no.1 and there is also a moratorium granted. (K.R.SHRIRAM,J) KJ