[Per: Bench]

1. The present Petition has been filed by Trammo DMCC (“Petitioner/Operational Creditor/OC”) seeking to initiate Corporate Insolvency Resolution Process (“CIRP”) of M/s Nagarjuna Fertilizers & Chemicals Limited (“CD/Corporate Debtor/CD”) under section 9 of IBC.

2. Case of Petitioner/OC

a) It is submitted that OC is a company incorporated in Dubai, UAE, and engaged in the business of trading fertilizers. The current claim brought forth by the OC arises from foreign arbitral awards issued under an ad- hoc arbitration, with London designated as the seat of arbitration. These arbitral proceedings were conducted pursuant to an ad-hoc arbitration agreement dated 21.01.2014 ("Ad-Hoc Arbitration Agreement"). The arbitration was initiated to resolve disputes and claims related to the supply of one cargo of NP 20:20:00+13S fertilizer and two cargoes of Diammonium Phosphate fertilizer, provided by the OC to the CD.

b) It is submitted that the Arbitral Tribunal has awarded 5 arbitral awards in favour of the OC and the said awards are as follows:

c) It is submitted that the 28-day time limit under Section 70(3) of the English Arbitration Act for filing any challenge or appeal against Aw