Delhi HC Extends Arbitral Tribunal Mandate Despite CIRP of One Party

Shipra Estate Limited Vs Indiabulls Housing Finance Ltd. & Anr (Delhi High Court) The Delhi High Court has granted an extension for an arbitral tribunal’s mandate in the case of Shipra Estate Limited vs. Indiabulls Housing Finance Ltd. & Anr. The court’s decision addresses an application under Section 29A(5) of the Arbitration and Conciliation Act, 1996, seeking to extend the time for the tribunal to pass an award. The petitions involved several entities, including Shipra Estate Limited, which is currently undergoing Corporate Insolvency Resolution Process (CIRP) proceedin...