https://www.taxtmi.com/caselaws?id=781814 NCLAT held that in CIRP an operational creditor may claim set-off of mutual dues under Regulation 7 read with Form B of the CIRP Regulations. Relying on SC precedent in Bharti Airtel, it held that while generic set-off under liquidation regulations does not apply to CIRP, contractual and equitable set-off are permitted and the present case falls within these exceptions. NCLAT found the RP erred in refusing to admit the creditor's claim after set-off and accepted that the creditor's claim should stand reduced to Rs. 3.40 crore after adjusting Rs. 5.56 crore payable to the CD. As this did not affect the approved resolution plan or payouts, the plan approval order was not disturbed. The appeal was disposed of. en-us Tue, 14 Oct 2025 00:00:00 +0530 Fri, 21 Nov 2025 08:42:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781814 NCLAT held that in CIRP an operational creditor may claim set-off of mutual dues under Regulation 7 read with Form B of the CIRP Regulations. Relying on SC precedent in Bharti Airtel, it held that while generic set-off under liquidation regulations does not apply to CIRP, contractual and equitable set-off are permitted and the present case falls within these exceptions. NCLAT found the RP erred in refusing to admit the creditor's claim after set-off and accepted that the creditor's claim should stand reduced to Rs. 3.40 crore after adjusting Rs. 5.56 crore payable to the CD. As this did not affect the approved resolution plan or payouts, the plan approval order was not disturbed. The appeal was disposed of. Case-Laws IBC Tue, 14 Oct 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781814