YOGESH KHANNA, J.

1. This petition is under section 34 of the Arbitration and Conciliation Act, 1996 (hereinafter referred as the Act) for setting aside the arbitral award dated 20.05.2016 passed by the arbitral tribunal in favour of the respondent herein. The award is in nature of a pure money decree in favour of the respondent.

2. During the pendency of these proceedings under section 34 of the Act, an application under Section 7 of the Insolvency and Bankruptcy Code 2016 (hereinafter referred as the Code) was filed by a financial creditor against the respondent company before the National Company Law Tribunal – Mumbai, (hereinafter referred as the NCLT) seeking initiation of the corporate insolvency resolution against the respondent and by an order dated 04.07.2017 the NCLT has admitted such application and has declared a moratorium in terms of Section 14 of the Code.

3. The question now has arisen is if the present proceedings under Section 34 of the Act, need to be stayed, per Section 14 (1)(a) of the Code?

4. The respondents case is if the proceedings are stayed, the respondent would be unable to execute the award given in its favour for an extended period till the mora