Adjudicating Authority has relied on such document and accepted that filing of
Application could not be said to be bad.
11. Learned Counsel ... shows that it related to
enforcement of a foreign award. Dispute raised was that the execution application
had not been notarised
mentioned about the foreign suit in the reference. The foreign
suit was decreed on 08.04.2014. The Facility Agent also filed an application
for intervention before ... SICA for taking steps
in execution of the said two foreign awards in respect of the
properties of the petitioner situated outside India
frustrate the efforts of Rishima for execution of the
arbitral award. He has claimed that this application filed on behalf
of an offshore ... SIDCL in filing of the IBC application to stall
the execution of the arbitral award. The dispute between Rishima
and SIDCL
details of the case as what needs to be
addressed in this application are:
a. Whether the claim made by the Applicant
would qualify ... order
it was held that the debt arising out of a foreign award has to be treated as
'other debt'. In Para
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execution.
Similarly, existence of amount of debt or quality of goods or service for
which a suit have been filed and decreed; an award ... Insolvency
resolution process cannot be misused for execution ofajudgemerit and
decree jassed in a suit or award passed by an arbitration Tribunal
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