The High Court of Delhi has held that any claim that has been settled under the resolution plan, even though at a nominal value of Rs. 1 only, would become non-arbitrable once the resolution plan.
The High Court of Delhi has held that once a resolution plan is approved by the CoC and the adjudicating authority, it results in the extinguishment of all the existing claims that any party may.
Indian Oil Corporation Limited vs Arcelor Mittal Nippon Steel India on 10 October, 2023 indiankanoon.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiankanoon.org Daily Mail and Mail on Sunday newspapers.
In recent times, several noteworthy judgments have been rendered by the Indian Courts and Tribunals in matters relating to the Insolvency and Bankruptcy Code, 2016 (IBC). Some decisions rendered from.
The dispute emanated from a gas supply agreement entered into between Essar Steel Limited and IOCL in 2009, prior to Essar being taken over by Arcelor Mittal Nippon Steels almost a decade later