SC adjudicated a dispute concerning the executability of an ...

Corporate Insolvency Resolution Plan Nullifies Prior Arbitral Award, Extinguishing Claims Outside Approved Restructuring Framework

April 24, 2025

Case Laws IBC SC

SC adjudicated a dispute concerning the executability of an arbitral award post-corporate insolvency resolution plan. The Court held that upon NCLT's approval of the resolution plan, the respondent's claim stood extinguished, rendering the Facilitation Council's arbitral award dated 06.07.2018 non-executable. The Court rejected the HC's interpretation that the Facilitation Council retained jurisdiction to pronounce the award after the resolution plan's approval. Consequently, the SC allowed the appeal, declaring the award void and unenforceable, emphasizing that claims outside the resolution plan cannot be pursued post-NCLT approval.

View Source

← Previous Next →

SC adjudicated a dispute concerning the executability of an ...

Corporate Insolvency Resolution Plan Nullifies Prior Arbitral Award, Extinguishing Claims Outside Approved Restructuring Framework

April 24, 2025

Case Laws IBC SC

You may also like:

Execution of arbitral award - the arbitral proceedings were initiated prior to insolvency resolution date, suspended during the moratorium period, resumed upon expiry of...

Once a resolution plan is approved u/s 31(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), only the debts specified in the resolution plan remain payable. This...

Challenge to an interim arbitral award u/s 31(6) of the Arbitration and Conciliation Act, 1996. The key issues are: (1) whether the rejection of an application u/s 16...

The Noida authority had terminated the lease deed of the subject land prior to the commencement of the Corporate Insolvency Resolution Process (CIRP) of the Corporate...

A resolution plan was approved for the petitioner on 26.03.2021 under the Insolvency and Bankruptcy Code (IBC). The Municipal Corporation of Delhi (MCD) demanded...

The NCLAT dismissed the appeal, holding that the Resolution Plan submitted by the Resolution Applicant did not violate any provisions of law, including Regulation 37(ba)...

The adjudicating authority has jurisdiction to cancel a registered General Power of Attorney (PoA) executed in favor of the appellant, who was a nominee of the corporate...

Once the resolution plan is approved under the Insolvency and Bankruptcy Code, any outstanding claims, including those under the Gujarat Value Added Tax Act for...

The judgment addresses the applicability of Section 31 of the Insolvency and Bankruptcy Code (IBC) concerning the recovery of tax dues from the successful resolution...

Recovery of excise duty, which got extinguished on approval of resolution plan - Section 31(1) of the IBC, 2016 mandates that the resolution plan approved by the NCLT...

The case pertains to the extinguishment of claims under the Insolvency and Bankruptcy Code (IBC) against Ruchi Soya Industries Limited, after the acceptance of the...

The IBBI has issued a notification amending the Insolvency Resolution Process for Corporate Persons Regulations, 2016, specifically modifying Schedule-I, Form H...

Approval of a resolution plan - The Tribunal dismissed objections raised by dissenting homebuyers, citing that since the homebuyers as a class assented to the plans,...

Approval of resolution plan - Amendments in the Regulation 39 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons)...

Resolution plan. - Amendments in the Regulation 37 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process For Corporate Persons) Regulations, 2016

Quick Updates: