JUDGMENT

K.M. Joseph, J. - Leave granted.

2. The foremost question which falls for determination by this Court is the impact of Section 60(6) of the Insolvency and Bankruptcy Code (hereinafter referred to as 'IBC' for brevity) and whether the aforesaid provision gives rise to a new lease of life to a proceeding at the instance of the corporate debtor on the basis of a moratorium which is put in place by virtue of the order passed under section 14 of the IBC and whether corporate debtor can take advantage of the same to bring the application in this case filed under Section 11(6) of the Arbitration and Conciliation Act, 1996 (hereinafter referred to as 'the 1996 Act').

3. Pursuant to an agreement dated 20.02.2015, the appellant placed a purchase order of Rs. 16,20,00,000/- with the respondent.

The appellant, however, issued a termination notice to the respondent on account of its alleged inaction and conduct which is described as non-responsive. This led to the respondent approaching the High Court of Delhi which finally culminated in a direction by the High Court to afford an opportunity of hearing to the respondent and to consider its representation. The appellant, however, rejected t