- (1.) The Insolvency Resolution Professional filed an Application before this Bench seeking clarification to the Moratorium Order passed on 18.7.2017 and also for stay of the arbitration proceedings pending in between Moorgate Industries India Pvt. Ltd and the Corporate Debtor in respect to the claim payable to the Respondent (Moorgate) .
(2.) The Applicant has been appointed as Insolvency Resolution Professional in the Moratorium Order passed u/s 7 of Insolvency & Bankruptcy Code, 2016 on 18.7.2017, with that authority, this application has been tiled for the above reliefs. The Applicant submits that despite this Bench has declared Moratorium prohibiting institution of suits or continuation of pending suits, proceedings against the Corporate Debtor, including execution of judgement, decree or order in any Court of Law, Tribunal, Arbitration Panel, or other authority, the Arbitral Iribunal appointed in the claimant proceeding against the Corporate Debtor proceeded to an extent of clarifying that the said Arbitral Tribunal is not bound by the Moratorium declared u/s 14 of the Code against the Corporate Debtor in the order passed on 11.10.20017.
(3.) Since the claimant in that arbitral claim petition is Moorgate Industries India Pvt. Ltd. i.e., the Respondent in this Application, the Counsel appearing on behalf of the Respondent has submitted that the Arbitral Tribunal already decided on 11.10.2017 holding that it is not bound bv Moratorium Order passed bv this Bench, the jurisdiction for assailing the order passed by the Arbitral Tribunal lies before Honorable High Court of Bombay u/s 37 of The Arbitration and Conciliation Act not before this Bench.;