Extending Arbitral Mandates Under Section 29A During Corporate Liquidation and Statutory Moratoriums

Highlights of the Judgment:
- Examination of "sufficient cause" under Section 29A(5) of the Arbitration and Conciliation Act, 1996, for extending an arbitral mandate.
- Analysis of procedural delays caused by statutory moratoriums and liquidation proceedings under the Insolvency and Bankruptcy Code, 2016.
- Evaluation of whether a party's bona fide pursuit of jurisdictional challenges constitutes "fence-sitting" or disqualifies them from seeking an extension.
- Interpretation of the interplay between parallel arbitral proceedings and the doctrine of functus officio under Section 32 of the Arbitration Act.
- Assessment of the relevance of mutual credits and set-offs under liquidation regulations during mandate extension applications.