(70) ELECTROSTEEL STEEL LIMITED (NOW M/S ESL STEEL LIMITED) Vs. ISPAT CARRIER PRIVATE LIMITED[SUPREME COURT OF INDIA] 21-04-2025
Insolvency and Bankruptcy Code, 2016 (IBC) — Section 31 — Approval of Resolution Plan — Effect on Claims — Extinguishment — Binding Nature — ‘Clean Slate’ Principle — Once a resolution plan is approved by the Adjudicating Authority (NCLT) under Section 31 of the IBC, it is binding on the corporate debtor, its employees, members, creditors (including central/state government, local authorities, operational creditors), guarantors, and other stakeholders — Upon such approval, all claims, including
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