https://www.taxtmi.com/caselaws?id=449110 Section 60(5) of the Insolvency and Bankruptcy Code cannot be used to enforce a foreign judgment or obtain monetary directions against a corporate debtor after the corporate insolvency resolution process has concluded and the resolution plan has been implemented. Claims not included in the approved resolution plan stand extinguished on approval, and they cannot later be pursued against the corporate debtor or its new management on a fresh-slate basis. The NCLAT noted that the reliefs sought were in substance enforcement of quantified sums, outside the permissible insolvency context, and held that excluded claims could not be revived after completion of the resolution process. en-us Mon, 29 Jan 2024 00:00:00 +0530 Tue, 06 Feb 2024 17:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449110 Section 60(5) of the Insolvency and Bankruptcy Code cannot be used to enforce a foreign judgment or obtain monetary directions against a corporate debtor after the corporate insolvency resolution process has concluded and the resolution plan has been implemented. Claims not included in the approved resolution plan stand extinguished on approval, and they cannot later be pursued against the corporate debtor or its new management on a fresh-slate basis. The NCLAT noted that the reliefs sought were in substance enforcement of quantified sums, outside the permissible insolvency context, and held that excluded claims could not be revived after completion of the resolution process. Case-Laws Insolvency and Bankruptcy Mon, 29 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449110