https://www.taxtmi.com/caselaws?id=447788 SC dismissed the appeals and held that the IBC's Chapter II Part II CIRP does not recognise statutory or insolvency set-off; such set-off is neither permitted by Sections 238/243 nor by Section 30(2)(b)(ii). Regulation 29 of the Liquidation Regulations and Section 36(4)(e) are inapplicable to CIRP. Contractual and equitable set-offs arising from mutual commercial dealings (e.g., interconnect charge adjustments) may be allowed and were permitted by the Resolution Professional, but automatic insolvency set-off is rejected. The moratorium under Section 14 protects the corporate debtor's assets. Appeals dismissed. en-us Wed, 03 Jan 2024 00:00:00 +0530 Sat, 23 Aug 2025 10:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447788 SC dismissed the appeals and held that the IBC's Chapter II Part II CIRP does not recognise statutory or insolvency set-off; such set-off is neither permitted by Sections 238/243 nor by Section 30(2)(b)(ii). Regulation 29 of the Liquidation Regulations and Section 36(4)(e) are inapplicable to CIRP. Contractual and equitable set-offs arising from mutual commercial dealings (e.g., interconnect charge adjustments) may be allowed and were permitted by the Resolution Professional, but automatic insolvency set-off is rejected. The moratorium under Section 14 protects the corporate debtor's assets. Appeals dismissed. Case-Laws IBC Wed, 03 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447788