Provisions u/s 22 of SICA not applicable to arbitration proceedings

Relevant Extracts :

The First Respondent had filed a claim petition against the Petitioners before the arbitrator seeking a sum of over Rs.57 lakhs stated to be due under a hire-purchase agreement. The Petitioners raised a specific plea before the arbitrator that the claim petition was not maintainable as the first Petitioner had been declared a sick industrial company by the BIFR and that section 22 of SICA placed an embargo on the continuation of the arbitral

Please become a Premium member. If you are already a Premium member, login here to access the full content.