NCLT Notes Arbitral Award Challenge Doesn’t Bar Insolvency, Confirms ₹922 Crore Default and Orders CIRP [Read Order]
The National Company Law Tribunal (NCLT) has clarified that a pending challenge to an arbitral award does not prevent insolvency proceedings under the Insolvency and Bankruptcy Code. Also confirmed a default of ₹922 crore and commenced Corporate InsolvencyResolution Process (CIRP). Bliss House Private Limited, engaged in real estate and construction, had availed a loan facility…

