NEW DELHI MUNICIPAL COUNCIL Vs. MINOSHA INDIA LIMITED

JUDGEMENT

(1.) Leave granted.

(2.) The foremost question which falls for determination by this Court is the impact of Sec. 60(6) of the Insolvency and Bankruptcy Code (hereinafter referred to as 'IBC' for brevity) and whether the aforesaid provision gives rise to a new lease of life to a proceeding at the instance of the corporate debtor on the basis of a moratorium which is put in place by virtue of the order passed under sec. 14 of the IBC and whether corporate debtor can take advantage of the same to bring the application in this case filed under Sec. 11(6) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the 1996 Act').

(3.) Pursuant to an agreement dtd. 20/2/2015, the appellant placed a purchase order of Rs.16,20,00,000.00 with the respondent.