Arbitration award pronounced after approval of resolution plan cannot be sustained

Electrosteel Steel Limited Vs Ispat Carrier Private Limited (Supreme Court of India) Supreme Court held that arbitration proceeding culminating into award post approval of resolution plan by NCLT is not tenable in law since Facilitation Council loses its jurisdiction to proceed and pronounce arbitral award in view of approved resolution plan. Facts- This appeal by special leave is directed against the judgment and order dated 17.07.2023 passed by the High Court of Jharkhand at Ranchi filed by the appellant. Appellant had filed application before the High Court of Jharkhand at Ranchi under Arti...