Insolvency notice u/S. 9 - Cannot be issued on basis of an Arbitration Award - Reason being, arbitration award is neither decree nor an order for payment within meaning of S. 9 (2) and it is not rendered in a suit

Citation

2006(5) CTC 357

AIR 2007 SUPREME COURT 168

SUPREME COURT

(From : Bombay)

DR. AR. LAKSHMANAN, J. and LOKESHWAR SINGH PANTA, J.

Civil Appeal No. 4130 of 2003, D/-31-10-2006

Paramjeet Singh Patheja v. ICDS Ltd

Presidency Towns Insolvency Act (3 of 1909), S.9(2) - Arbitration and Conciliation Act (26 of 1996), S.15 Civil P.C. (5 of 1908), S.2 - Act of insolvency by debtor - Insolvency notice u/S. 9 - Cannot be issued on basis of an Arbitration Award - Reason being, arbitration award is neither decree nor an order for payment within meaning of S. 9 (2) and it is not rendered in a suit. -

Notice of motion No. 72 of 2002 in Notice No. N/180 of 2001, D/- 19-3-2003 (Bom), Reversed.