Case Law Analysis
|Delhi High Court
Award excluded from approved IBC resolution plan is extinguished; security deposit refunded with interest | Section 34 Petition : Delhi HC
Delhi High Court ruled that an arbitral award not incorporated into an approved IBC resolution plan is legally extinguished, and ordered the return of the petitioner’s security deposit of INR 5.52 crore with accrued interest. The decision clarifies that Section 34 petitions become infructuous when the award is omitted from the resolution plan, impacting parties in corporate insolvency arbitrations.