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Pendency Of Execution Petitions Or Appeals Under Sec.37 Of The Arbitration & Conciliation Act, Not A Bar To Initiate Insolvency Resolution Process; NCLAT [Read Judgment] Read more at: http://www.livelaw.in/pendency-execution-petitions-appeals-sec-37-arbitration-nclat-read-judgment/

Arbitration Letters Patent (Bombay), Cl. 12 – Arbitration and Conciliation Act (1996), S. 9 – Territorial jurisdiction – Determination as to whether there is “suit for land” – Dispute between parties arose out of development agreement – Owner who had terminated the agreement, forfeited security deposit and demanded for arbitration – Disputed land situated at Indore, M.P. – However, developer invoked jurisdiction of Bombay HC for arbitration – By seeking leave under Cl. 12 of Letters Patent, he filed application u/S. 9 of Arbitration Act in Bombay HC claiming it to be money claim and not “suit for land” – However relief sought in said application u/S. 9 was of injunction against dispossession – Correspondence exchanged between parties also shows dispute between parties as to who is in possession – Held, there exist “suit for land” and not a money claim – Court at Indore would have...