In a significant judgment, the Supreme Court of India in Ankhim Holdings Pvt. Ltd. & Anr. v. Zaveri Construction Pvt. Ltd.1 clarified an important procedural question that sits at the intersection of arbitration law and insolvency proceedings: Can a court, while appointing a substitute arbitrator, invalidate arbitral proceedings conducted during an IBC moratorium?
The Supreme Court’s answer was unequivocal: No.
The ruling strengthens India’s pro-arbitration framework, reinforces the principle of minimal judicial interference, and provides crucial certainty for businesses and homebuyers affected by insolvency-linked disputes.
The Background: A Redevelopment Project and Corporate Insolvency
The dispute arose from a Mumbai…