Unquantified Pending Legal Proceedings Stand Extinguished Upon NCLT Approval of Resolution Plan: Supreme Court

In a significant ruling clarifying the boundaries of corporate insolvency resolution, the Supreme Court of India has held that all pending legal proceedings, including civil suits and arbitrations that have not culminated in quantified and crystallised claims by the date of approval of a Resolution Plan, stand abated, extinguished, or withdrawn. A division bench comprising

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