Arbitral reference in respect of a claim which is made subject-matter of a creditor’s winding up petition would not operate as a bar on winding up proceedings

HIGH COURT OF CALCUTTA Maheshwary Ispat Ltd., In re SANJIB BANERJEE, J. CA NO. 1084 OF 2011 CP NO. 560 OF 2011 OCTOBER 12, 2012 JUDGMENT 1. The parties are not to blame for this creditor’s winding-up petition having lingered for an unnecessary length of time and there being a more protracted hearing than is ordinarily called for in a matter of this kind. It was only an observation of the court that led to a relatively innocuous matter being blown out of proportion upon the court considering it to be significant that subsequent to the present petition being instituted the...