CIRP Moratorium Period u/s 14 of IBC excluded from limitation period for Filing Application u/s 34 of Arbitration Act: Calcutta HC

The Calcutta High Court ruled that the moratorium period under Section 14 of the Insolvency and Bankruptcy Code (IBC) should be excluded from the limitation period for filing an application under Section 34 of the Arbitration and Conciliation Act. The decision came in the context of a dispute over whether the moratorium period could extend the statutory deadlines for challenging arbitral awards. By excluding the moratorium period, the court provided clarity on the interaction between the IBC and arbitration law, ensuring that parties in insolvency proceedings are not unfairly disadvantaged by the running of limitation periods during the moratorium.