Tag: clean slate principle

Supreme Court Clarifies ‘Clean Slate’ Principle Under IBC, Allows Counterclaims Only for Set-Off

Editor Supreme Court October 8, 2026

New Delhi: The Supreme Court has clarified the application of the ‘clean slate’ principle under the Insolvency and Bankruptcy Code, 2016 (IBC), holding that an extinguished claim cannot be used to seek independent recovery after approval of a resolution plan. Read more…

NCLT Kolkata: Section 60(5) IBC Cannot Be Invoked Post-Resolution Plan Approval to Seek CIRP Records

Team Law Notify Commissions, Forums & Tribunals April 9, 2026

NCLT _ National Company Law Tribunal _ LawNotify

April 8, 2026 : The National Company Law Tribunal (NCLT), Kolkata Bench has ruled that its residuary jurisdiction under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 cannot be exercised after approval of a resolution plan to seek disclosure Read more…