Whether a final arbitral award can be considered as

an evidence of debt?

The fact that a creditor whose credit is disputed and there is already an arbitral
proceeding is going on and in the very period the corporate debtor initiates CIRP
against itself, would that creditor would not be allowed to continue with its arbitral
proceeding because of the moratorium period initiated due to CIRP.

And if yes, if there is an award against the CD, would that be included or considered
as evidence of debt in evaluating the debts on that CD?

Would that creditor be included in the COC?

Because one of the SC judgment says that award should be undisputed and if any
dispute raised by the CD, would that proceeding be not stayed under the sec 14
embargo during moratorium period.

And if this is not allowed in this period then after Resolution plan is approved and
executed, liability of this credit would be vanished by the functioning provided by the
legislature.

Insolvency matters are right in rem and arbitration is right in personum. Erga omnas
effect of the ibc over arbitration. Vidya Drolia case, initiation of cirp starts after the
admission of the application but before that the claim of debt has to be proved.

Core n non-core matters.

Core matters – decided only by court

Non-core – can be decided by tribunal in ibc matters

Swiss taken a liberal view and differentiated between core and non-core ibc matters
that cannot or can be dealt by arbitral tribunal.

India is silent or has not yet clariid and can take inspiration. Or borrow legistation
intent and according differentiate between core and non core ibc matters. Now what
we are corelating that the creditor who has arbitral award in favour would that debt be
included in existing debts of cirp and would that creditor be determined as one of the
Creditors in COC while moratorium process is ongoing or would that matter be
arbitral.

Indus Biotech and Vidarbha(2022) gives the harmonious construction between IBC
and pro Arbitration approach of Indian judiciary where discretionary power is given to
the AA to see before admission of application u/s 7 of IBC, is that debt of CD exists
and of exists then whether CD in reasonable amount of time would be able to pay
back the debt or CD is in complete financial distress.