Statutory Arbitration Under MSCS Act, Section 21 Notice, and IBC Moratorium Interplay for Personal Guarantors

sketch of the Bombay High Court
Case
UNIVERSAL TEXTILE WATERPROFF CO., (INDIA) v. CENTRAL REGISTRAR OF CO-OPERATIVE SOCIETIES (Bombay High Court, 01-10-2026)
Law
Arbitration and Conciliation Act, Insolvency and Bankruptcy Code, Limitation Act, Multi-State Co-operative Societies Act.

Highlights of the Judgment:

  • Examination of whether a Section 21 notice under the Arbitration and Conciliation Act is mandatory prior to statutory arbitration under the MSCS Act.
  • Interpretation of Section 84 and Section 85 of the Multi-State Co-operative Societies Act regarding dispute settlement and limitation periods.
  • Analysis of the interim moratorium under Section 96 of the Insolvency and Bankruptcy Code concerning personal guarantors of corporate debtors.
  • Application of Section 96(4) amendment regarding pending personal insolvency resolution process filings.
  • Assessment of arbitrator independence under the Fifth Schedule of the Arbitration Act for multiple dispute assignments.