The Karnataka High Court has declined to entertain an objection by an erstwhile director of A.L. Sudershan Construction Co. Ltd. against a settlement with the National Highways Authority of India (NHAI) over an arbitral award
The court observed that the company was under liquidation and was duly represented by the Resolution Professional, and that any objection would have been raised at an appropriate time before the National Company Law Tribunal.
A Division Bench of Justices Anu Sivaraman and Venkatesh Naik T made the observation while accepting a settlement between NHAI and the company under the Vivad Se Vishwas-III Scheme.
“In the above view of the matter, respondent No.5, who is an erstwhile Director of the Company, cannot have…