https://www.taxtmi.com/caselaws?id=768784 Bombay HC held that a creditor's claim not included in an approved resolution plan under the Insolvency and Bankruptcy Code stands extinguished. The respondent creditor failed to lodge its claim with the resolution professional within the prescribed timeframe following public announcement under Section 13 of IBC. Upon NCLT's approval of the resolution plan, the debt was extinguished, eliminating the respondent's right to oppose release of bank guarantees. The court allowed the appellant's interim application for release of bank guarantees, ruling that extinguished claims cannot be pursued through any proceedings. en-us Mon, 10 Mar 2025 00:00:00 +0530 Mon, 14 Apr 2025 08:36:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768784 Bombay HC held that a creditor's claim not included in an approved resolution plan under the Insolvency and Bankruptcy Code stands extinguished. The respondent creditor failed to lodge its claim with the resolution professional within the prescribed timeframe following public announcement under Section 13 of IBC. Upon NCLT's approval of the resolution plan, the debt was extinguished, eliminating the respondent's right to oppose release of bank guarantees. The court allowed the appellant's interim application for release of bank guarantees, ruling that extinguished claims cannot be pursued through any proceedings. Case-Laws IBC Mon, 10 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768784