Arbitration case insights: Issue 71 (Sirpur Paper Mills case)
May 31, 2021
This update examines the issues in the application filed by Sirpur Paper Mills (“Petitioner”) under Section 34 of the Arbitration and Conciliation Act, 1996 before a Single Judge of High Court at Calcutta against an arbitral award dated 7 July 2008 passed in an arbitration between I.K. Merchants Private Limited and the Petitioner. The Update presents an analysis of the judgements that were passed, which re-emphasised that pre-existing and undecided claims which have not featured in collation of claims and consequent consideration by a Resolution Professional shall be treated as extinguished upon approval of Resolution Plan under Section 31 of IBC.
The Bar Council of India does not permit solicitation of work and advertising by legal practitioners and advocates. By accessing the Shardul Amarchand Mangaldas & Co. website (our website), the user acknowledges that:
The user wishes to gain more information about us for his/her information and use. He/She also acknowledges that there has been no attempt by us to advertise or solicit work.
Any information obtained or downloaded by the user from our website does not lead to the creation of the client – attorney relationship between the Firm and the user.
None of the information contained in our website amounts to any form of legal opinion or legal advice.
All information contained in our website is the intellectual property of the Firm.