ORDER :

This appeal has been preferred by M/s K. S. Oils Ltd. (Corporate Debtor) through Mr. Kuldip Verma, Resolution Professional against order dated 6th October, 2017 passed by the Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench whereby and whereunder application preferred by the Resolution Professional on behalf of the Corporate Debtor against the order dated 3rd August, 2017 passed by the Indian Council of Arbitration, New Delhi, has been rejected on the ground that the application against said order is not maintainable.

2. Learned counsel for the Appellant submitted that after declaration of moratorium and appointment of the Resolution Professional, the arbitral proceeding between ‘M/s K. S. Oils Ltd.’ (Corporate Debtor) and ‘The State Trade Corporation of India Ltd.’, New Delhi (Financial Creditor) cannot proceed. Reliance has been placed on Section 14 of the Insolvency and Bankruptcy Code, 2016 (‘I&B Code’ in short).

3. By order dated 3rd August, 2017, the Indian Council of Arbitration decided to proceed with the arbitral proceeding irrespective of order of moratorium passed by the Adjudicating Authority.

4. Learned counsel for the respondent - The State