All Claims Which Are Not Part Of Resolution Plan Shall Stand Extinguished, No Person Entitled To Initiate Any Proceedings Over Such Claims: Bombay HC

The Bombay High Court held that claims as provided in a resolution plan duly approved by the adjudicating authority under Section 31 of the IBC shall stand frozen. This ruling clarifies the implications of approved resolution plans. It emphasizes the importance of adhering to the IBC. The court's decision promotes the insolvency resolution process.