Corporate Debtor forfeited right to file arbitration application post filing of reply to Section 7 of IBC: NCLAT Delhi

Century Aluminium Company Limited Vs Religare Finvest Limited (NCLAT Delhi) NCLAT Delhi held that by not filing of Application under Section 8 of the Arbitration and Conciliation Act, 1996 at the time of filing of a Reply to Section 7 of the Insolvency and Bankruptcy Code, 2016, Corporate Debtor has forfeited his right to file his Application under Section 8. Facts- An Application u/s. 7 was filed by the Financial Creditor for Financial Debt of ₹16,89,54,976.03/–. Financial Creditor, unilaterally appointed an Arbitrator to adjudicate dispute between the Parties on 26.07.2019. Sole Arbitrat...