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2020 (1) TMI 305 - AT - Insolvency and BankruptcyCIRP proceedings - scope of claim and counter claim - whether a counter claim can proceed during the period of 'Moratorium' while the Adjudicating Authority (National Company Law Tribunal) allowed the 'Corporate Debtor' to pursue the claim before the Arbitral Tribunal? HELD THAT:- It is true that the 'Counter-claim' made by the 'Corporate Debtor' is a 'separate proceedings' than that of the 'Arbitral proceedings' filed by the 'Claimant'. However, they cannot be segregated and can go on simultaneously together. The claim of the Respondent cannot be determined by the 'Arbitral Tribunal' during the period of 'Moratorium' passed by the Adjudicating Authority. In such situation, as it cannot be decided as to what amount can be taken, we hold that the 'counter-claim' filed by the 'Corporate Debtor' also cannot proceed. This Appellate Tribunal allowed the 'claim petition' filed by the 'Corporate Debtor' of the said case to proceed with. For determination of the claim, it was also noticed that the 'counter-claim' or part of it is set-off with the claim, this Appellate Tribunal observed that the 'claim' and 'counter-claim' should also be heard together by the Arbitral Tribunal, however, with a clear understanding on such determination the 'Corporate Debtor' is liable to pay certain amount, in such case, no recovery is made during the period of 'Moratorium'. There are no merit in the appeal - appeal dismissed.
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