https://www.taxtmi.com/acts?id=31558 Where reciprocal financial dealings exist between a corporate debtor and another party, the regulation permits set-off of sums due from each to determine the net amount payable. The mechanism aggregates mutual credits and debits and offsets them so only the balance remains payable, applying to claims in the liquidation context and illustrated by a reciprocal debt scenario resulting in a net payable balance. en-us Thu, 04 Jan 2018 10:58:31 +0530 Thu, 04 Jan 2018 10:58:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=31558 Where reciprocal financial dealings exist between a corporate debtor and another party, the regulation permits set-off of sums due from each to determine the net amount payable. The mechanism aggregates mutual credits and debits and offsets them so only the balance remains payable, applying to claims in the liquidation context and illustrated by a reciprocal debt scenario resulting in a net payable balance. Act-Rules IBC Thu, 04 Jan 2018 10:58:31 +0530 https://www.taxtmi.com/acts?id=31558