Paramjeet Singh Patheja vs Icds Ltd

The Supreme Court held that an arbitration award qualifies as a 'decree' under Section 9(2) of the Presidency Towns Insolvency Act, 1909, allowing for the issuance of an insolvency notice based on such an award. The Court affirmed the Division Bench's ruling that contradicted prior High Court decisions, establishing that the definition of 'decree' encompasses arbitration awards for insolvency proceedings. Consequently, the appeal against the High Court's order was dismissed, upholding the validity of the insolvency notice issued to the appellant.