M/s Gbj Hotels Pvt. Ltd, Represented by its Managing Director, v. M/s B.E.Billimoria and Co., Ltd, Represented by its Head-Operations (South)
Case brief
What is this about?
O.P. No. 44 of 2021, High Court of Madras, N. Anand Venkatesh J., decided 02-12-2025. Section 34(2)(b)(ii) Arbitration and Conciliation Act 1996 petition by GBJ Hotels Pvt Ltd to set aside arbitral award dated 26.10.2020 (B.E.Billimoria and Co. as respondent) DISPOSED OF: petitioner underwent CIRP before NCLT Chennai (admitted 19.4.2022), resolution plan approved 25.8.2023, NCLAT rejection 10.10.2023; respondent's claim extinguished per waterfall mechanism under IBC 2016 through payment of Rs.9,00,11,070/-; counter claim not prosecutable because award considered common grounds for claim and counter claim; no costs.
What did the court decide?
No substantive relief granted; the Court merely recorded the CIRP/resolution-plan developments (respondent's claim extinguished under the IBC 2016 waterfall mechanism; petitioner's counter claim not capable of being prosecuted) and disposed of the original petition with no costs.