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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  

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