Top Court directs Arbitral Tribunal to dispose of Eveready challenge

Asks Eveready not to 'dissipate or dispose' of its assets, except in the usual course of business

The Supreme Court has directed the Arbitral Tribunal to dispose of an application of jurisdictional challenge raised by Eveready Industries India in the case with KKR India Financial Services without being influenced by observations of the Division and Single Bench of the Delhi High Court.

In an order dated April 1, the apex court also asked Eveready not to “dissipate or dispose” of its assets, except in the usual course of business. The order said that the petitioner (Eveready) is restrained from creating any encumbrances of its unencumbered assets for a period of four weeks or till further orders of