JUDGMENT - D.K. DESHMUKH, J.:---By this notice of motion, the applicant seeks an order setting aside the Insolvency Notice No. N/II/01.

2.The facts that are material and necessary for deciding this Notice of Motion are that an amount was due from M/s. Shaan Interwell (I) Ltd. to the respondent/judgment creditor. Therefore, proceedings were started before the Arbitrator against the company and the applicant. When the proceedings were started before the arbitrator, though the claim made by the respondent was not disputed, an objection was raised to the continuance of the arbitral proceedings on the ground that a reference was pending before the B.I.F.R. The submissions was that in view of section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985, the arbitral proceedings cannot continue. The learned arbitrator after considering this submissions in detail rejected the objection holding that provisions of section 22 will not operate to stay the proceedings before the arbitrator. The arbitrator made an award for payment of the amount against the applicant as also the company. They were held jointly and severally liable to pay the amount. Neither the company nor the appl

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