LAWS(NCLT)-2018-1-640

SHALBY LTD Vs. PRANAV SHAH

Decided On January 12, 2018
SHALBY LTD Appellant
V/S
PRANAV SHAH Respondents

JUDGEMENT

(1.) Respondent/Corporate Debtor in Company Petition No. 123 of 2017 filed this application with a request to relegate the parties to the Company Petition (LB.) No. 123 of 2017 to arbitration in terms of the agreed procedure for dispute resolution stated in the Consultancy Agreement dated 30.09.2008 and dismiss Company Petition (LB.) No. 123 of 2017.

(2.) The applicant herein is corporate debtor in Company Petition (LB.) No. 123 of 2017. Respondent herein is petitioner/ operational creditor in Company Petition (LB.) No. 123 of 2017. The parties in this order are referred to as operational creditor and corporate debtor for the sake of convenience and better understanding.

(3.) Operational creditor filed Company Petition (LB.) No. 123 of 2017 under Section 9 of The Insolvency and Bankruptcy Code, 2016 with a request to trigger Corporate Insolvency resolution process in respect of corporate debtor - Shalby Ltd.