Financial creditor not prohibited to take remedy u/s. 7 even if dispute pending in arbitration

Sandeep Jain Vs IDBI Trusteeship Services Ltd. & Anr. (NCLAT Delhi)

NCLAT Delhi held that any dispute even pending in the arbitration does not in any manner prohibit the financial creditor to take remedy under Section 7. Thus, appeal dismissed and held that application u/s. 7 duly admitted.

Facts-This Appeal by a Suspended Director of the Corporate Debtor- M/s. Shree Vardhman Infraheights Private Limited has been filed challenging the order dated 08.01.2025 passed by the Adjudicating Authority (National Company Law Tribunal), Principal Bench, New Delhi a

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