New Delhi, Jan. 3 -- The Bombay High Court ruled that if a company exits insolvency under an approved resolution plan, an arbitral award under challenge does not survive, and any money withdrawn by the award holder from court deposits must be returned if the claim stands extinguished.

Court Orders Refund of Withdrawn Amount Justice Somasekhar Sundaresan, in an order dated December 17, 2025, allowed Reliance Defence and Engineering Ltd's interim application and directed Afcons Infrastructure Ltd to return Rs 12.76 crore withdrawn from court deposits during the pendency of the arbitration challenge.

"It is only proper that the amount withdrawn should now be brought back by Afcons since the underlying Arbitral Award itself stands extinguis...