Transaction value and connected person treatment in excise valuation: proprietary concerns not inter connected undertakings, relief on valuation and c...
Appointment of Registrars as adjudicating officers under Companies Act reallocates territorial jurisdiction and sets appeal route to Regional Director...
Composite supply of drilling services and site specific chemicals characterised as composite supply; prior advance rulings set aside, tax rate left op...
Cross country pipeline classification and ITC entitlement: pipelines outside factory treated as immovable, ITC disallowed under Section 17 restriction...
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Approval of a resolution plan under Section 31(1) of the IBC renders the plan binding and extinguishes claims not included in it, so an unresolved counterclaim cannot be pursued for affirmative relief after CIRP. However, reading paragraph 12.4.1 of the plan, the Court found no express or implied bar on a defensive plea of set-off, applying expressio unius est exclusio alterius to reject a broader exclusion. The respondent may therefore rely on set-off only to reduce or defeat the appellant's claim, without any positive recovery or surplus amount, and the ruling is confined to the wording of the plan and the facts stated.
Approval of a resolution plan under Section 31(1) of the IBC renders the plan binding and extinguishes claims not included in it, so an unresolved counterclaim cannot be pursued for affirmative relief after CIRP. However, reading paragraph 12.4.1 of the plan, the Court found no express or implied bar on a defensive plea of set-off, applying expressio unius est exclusio alterius to reject a broader exclusion. The respondent may therefore rely on set-off only to reduce or defeat the appellant's claim, without any positive recovery or surplus amount, and the ruling is confined to the wording of the plan and the facts stated.
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