CANDOR GURGAON TWO DEVELOPERS & PROJECTS PRIVATE LIMITED vs SREI INFRASTRUCTURE FINANCE LIMITED

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2023 Supreme(Online)(HC) 14266

SIDDHARTHA ROY CHOWDHURY, J
CANDOR GURGAON TWO DEVELOPERS & PROJECTS PRIVATE LIMITED – Appellant
Versus
SREI INFRASTRUCTURE FINANCE LIMITED – Respondent

Advocates:
For the Appellants/Petitioners: Mr. Ranjan Bachawat, Sr. Adv., Mr. Aakash Bajaj, Adv., Ms. Shreya Singh, Adv., Mr. Shubrojyoti Mookherjee, Adv.
For the Respondents: Mr. Om Narayan Rai, Adv., Mr. Rajdeep Mantha, Adv., Mr. M. Rajeshwara Rao, Adv.
For the Award-debtor: Mr. Jishnu Saha, Sr. Adv., Mr. Swatarup Banerjee, Adv., Mr. Aditya Kanodia, Adv., Ms. Suparna Sardar, Adv.

Table of Content
1. common judgment to dispose of execution applications. (Para 1)
2. details of the arbitral awards and judgments. (Para 2)
3. history of the award debtor’s unsuccessful appeals. (Para 3)
4. execution action taken by award holder. (Para 4)
5. banks' arguments against attachment. (Para 5 , 6 , 7)
6. award holder’s counterarguments on attachment validity. (Para 8 , 9 , 11)
7. continuation of attachment validity. (Para 12)
8. banks emphasize non-involvement in arbitral disputes. (Para 13 , 14)
9. insolvency code implications for claims. (Para 15 , 16)
10. identifying issues for adjudication. (Para 17 , 18)
11. moratorium provisions under ibc, 2016. (Para 23 , 24)
12. definition of security interest under ibc, 2016. (Para 25)
13. resolution plan approval impacts rogue claims. (Para 29 , 30)
14. execution proceedings maintainability concerns. (Para 31 , 32)
15. general principle on attachment and claims. (Para 33 , 34)
16. court ruling on the maintainability affirmed. (Para 36 , 37)
17. closure of requests post-judgment. (Para 38)

Siddhartha Roy Chowdhury, J.:

1. By this common judgement, I propose to dispose of three sets of applications filed by the Award Holder for execution of three s

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2023 Supreme(Online)(HC) 14266

SIDDHARTHA ROY CHOWDHURY, JCANDOR GURGAON TWO DEVELOPERS & PROJECTS PRIVATE LIMITED – AppellantVersusSREI INFRASTRUCTURE FINANCE LIMITED – Respondent

SIDDHARTHA ROY CHOWDHURY, J
CANDOR GURGAON TWO DEVELOPERS & PROJECTS PRIVATE LIMITED – Appellant
Versus
SREI INFRASTRUCTURE FINANCE LIMITED – Respondent