NCLT Cannot Set Aside Arbitral Award During IBC Moratorium

Mahavir Industrial Corporation Vs Hindustan Controls and Equipment Private Limited (NCLT Kolkata) The case of Mahavir Industrial Corporation vs. Hindustan Controls and Equipment Private Limited brings to light critical issues concerning the jurisdiction of the National Company Law Tribunal (NCLT) and its limitations in setting aside arbitral awards during the moratorium period under Section 14 of the Insolvency and Bankruptcy Code (IBC). The decision underscores the boundaries of NCLT’s authority, particularly in the context of arbitration proceedings that coincide with insolvency resolu...