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Arbitration Clause Cannot Block Insolvency Proceedings Once Default Is Proven: NCLT Mumbai
Case Law Details
- Case Name
- Golden Medows Export Private Limited Vs PS IT Infrastructure & Services Limited (NCLT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLT
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Golden Medows Export Private Limited Vs PS IT Infrastructure & Services Limited (NCLT Mumbai)
The National Company Law Tribunal (NCLT), Mumbai Bench admitted a Section 7 application filed by Golden Medows Export Private Limited against PS IT Infrastructure & Services Limited for initiation of Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC).
The financial creditor claimed a total default of Rs. 3,10,02,122 as on 30.09.2025, comprising principal outstanding of Rs. 2.90 crore and interest of Rs. 20,02,122 at 9% per annum. According to th...
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