The Supreme Court of India has held that while a creditor’s counterclaim against a corporate debtor stands extinguished if it is not included in an approved Resolution Plan, the creditor may still raise the plea of “set-off” as a defensive measure in pending arbitral proceedings. A Bench comprising Justice Dipankar Datta and Justice Augustine George
Extinguished Counterclaims Can Be Used as a Defence of ‘Set-Off’ Against Corporate Debtors: Supreme Court
