NCLT: Suspended Directors Who are Prospective Resolution Applicants Cann’t Access Valuation Reports  ||  Supreme Court Clarifies Test For Granting Bail to Accused Added at Trial under Section 319 CrPC  ||  SC: Fresh Notification For Vijayawada ACB Police Station not Required After AP Bifurcation  ||  SC: Studying in a Government Institute Does Not Create an Automatic Right to a Government Job  ||  NCLT Mumbai: CIRP Claims Cannot Invoke the 12-Year Limitation Period For Enforcing Mortgage Rights  ||  NCLAT: Misnaming Guarantor as 'Director' in SARFAESI Notice Doesn't Void Guarantee Invocation  ||  Jharkhand HC: Mere Breach of Compromise Terms by an Accused Does Not Justify Bail Cancellation  ||  Cal HC: Banks Cannot Freeze a Company's Accounts Solely Due To ROC Labeling a 'Management Dispute'  ||  Rajasthan HC: Father’s Rape of His Daughter Transcends Ordinary Crime; Victim’s Testimony Suffices  ||  Delhi HC: Judge Who Reserved Judgment Must Deliver Verdict Despite Transfer; Successor Can't Rehear    

SC: Can’t Apply Statutory Set Off or Insolvency Set Off to CIRP Proceedings Under IBC - (05 Jan 2024)

INSOLVENCY

Supreme Court has held that statutory or insolvency set off will not apply to Corporate Insolvency Resolution Process (CIRP) proceedings under IBC and stated that the Court wouldn’t extend it by implication, when legislature hasn’t accepted applicability of mutual set-off at the initial stage.

Tags : SUPREME COURT   INSOLVENCY SET OFF   STATUTORY SET OFF  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved