M/S Samriddhi Industries vs Drake And Skull Water And Energy Pvt Ltd
2024 Latest Caselaw 20902 P&H

Punjab-Haryana High Court

M/S Samriddhi Industries vs Drake And Skull Water And Energy Pvt Ltd on 25 November, 2024

                                       Neutral Citation No:=2024:PHHC:155269




ARB-110-2019                               -1-


         IN THE HIGH COURT OF PUNJAB AND HARYANA
                      AT CHANDIGARH


260                                              ARB-110-2019
                                                 Date of Decision: 25.11.2024
Samriddhi Industries                                                     ...Applicant

                                       Versus


Drake and Skull Water And Energy Private Limited                      ...Respondent

CORAM: HON'BLE MR. JUSTICE JAGMOHAN BANSAL
Present: -   Mr. Narender Kaajla, Advocate and
             Mr. Nimish Gautam, Advocate for the applicant
             ***
JAGMOHAN BANSAL, J. (Oral)

1. Through instant application under Section 11(6) of the

Arbitration and Conciliation Act, 1996 (for short '1996 Act'), the applicant is

seeking appointment of an Arbitrator.

2. On 01.10.2024, this Court passed the following order: -

"The respondent is claiming that by order dated

03.12.2020 National Company Law Tribunal, Chandigarh Bench (for short 'NCLT') approved the resolution plan. In view of approved resolution plan, the new management has come into play. As per judgment of Supreme Court in Ghanashyam Mishra and Sons Private Limited through the Authorized Signatory v. Edelweiss Asset Reconstruction Company Limited through the Director and others, (2021) 9 SCC 657, all the claims of creditors stand extinguished as soon as resolution plan was approved by the NCLT.

In the instant case, the claim relates to 2016 i.e. prior to approval of resolution plan.

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Neutral Citation No:=2024:PHHC:155269

Faced with this, learned counsel for the applicant seeks time to address the arguments.

Adjourned to 13.11.2024."

3. Learned counsel for the applicant seeks permission to withdraw

the present application with liberty to avail remedies as permissible by law.

4. Dismissed as withdrawn with aforesaid liberty.

(JAGMOHAN BANSAL) JUDGE 25.11.2024 Mohit Kumar

Whether speaking/reasoned Yes/No Whether reportable Yes/No

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