Prospective customs notification amendments cannot bar provisional release consideration for earlier imports when bills of lading predate their commen...
Personal guarantor insolvency jurisdiction follows the corporate debtor's CIRP Bench, enabling inter-territorial transfer and preventing parallel proc...
Section 47-A undervaluation threshold: fraudulent intent requirement faces reconsideration after referral to a larger Bench for authoritative resoluti...
RBI supersession powers over multi-State co-operative banks operate independently of the constitutional six-month ceiling and permit statutory extensi...
Section 31 finality under the IBC requires approved resolution...
Resolution plan finality extinguishes unquantified operational-creditor claims and pending proceedings unless the approved plan expressly preserves them.
Contents
Summary
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Section 31 finality under the IBC requires approved resolution plans to determine the treatment of operational-creditor claims and bind all stakeholders. Although Section 3(6) permits disputed and unadjudicated payment rights to enter CIRP, such inclusion does not by itself preserve related civil or arbitral proceedings after plan approval. Claims recorded at a notional value must be read with the final creditor list, distribution provisions, release clauses, cut-off dates and any express preservation mechanism. Unquantified pre-plan liabilities and proceedings are extinguished where the plan provides for discharge and abatement; a payment pool does not reserve funds for them without express terms. Section 238 gives this framework primacy over inconsistent remedies.
Section 31 finality under the IBC requires approved resolution plans to determine the treatment of operational-creditor claims and bind all stakeholders. Although Section 3(6) permits disputed and unadjudicated payment rights to enter CIRP, such inclusion does not by itself preserve related civil or arbitral proceedings after plan approval. Claims recorded at a notional value must be read with the final creditor list, distribution provisions, release clauses, cut-off dates and any express preservation mechanism. Unquantified pre-plan liabilities and proceedings are extinguished where the plan provides for discharge and abatement; a payment pool does not reserve funds for them without express terms. Section 238 gives this framework primacy over inconsistent remedies.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
