Supreme Court: Operational creditors cannot continue civil suits or arbitration after resolution plan approval if claims were not crystallised
A Bench of Justice Manoj Misra and Justice Manmohan held that allowing unresolved claims to survive the insolvency resolution process would defeat the very objective of the IBC, which is to enable a successful resolution applicant to take over the corporate debtor free from unforeseen liabilities.
A Bench of Justice Manoj Misra and Justice Manmohan held that allowing unresolved claims to survive the insolvency resolution process would defeat the very objective of the IBC, which is to enable a successful resolution applicant to take over the corporate debtor free from unforeseen liabilities.
