https://www.taxtmi.com/highlights?id=104755 Under the IBC clean slate principle, approval of a resolution plan extinguishes claims against the corporate debtor and successful resolution applicant, including claims not lodged in CIRP, but preserves the corporate debtor's claims against its debtors. A former promoter's status as successful resolution applicant under the MSME exception does not change that effect. The CIRP moratorium is excluded when computing limitation for an arbitral claim arising from contract termination after CIRP commencement. An extinguished operational creditor's claim cannot support affirmative recovery but may be used as a defensive set-off against amounts payable on the corporate debtor's surviving claim, limited to the claim lodged in CIRP. en-us Sat, 10 Oct 2026 08:32:32 +0530 Sat, 10 Oct 2026 08:32:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=104755 Under the IBC clean slate principle, approval of a resolution plan extinguishes claims against the corporate debtor and successful resolution applicant, including claims not lodged in CIRP, but preserves the corporate debtor's claims against its debtors. A former promoter's status as successful resolution applicant under the MSME exception does not change that effect. The CIRP moratorium is excluded when computing limitation for an arbitral claim arising from contract termination after CIRP commencement. An extinguished operational creditor's claim cannot support affirmative recovery but may be used as a defensive set-off against amounts payable on the corporate debtor's surviving claim, limited to the claim lodged in CIRP. Highlights IBC Sat, 10 Oct 2026 08:32:32 +0530 https://www.taxtmi.com/highlights?id=104755