Supreme Court Quahses Enforcement of Arbitral Award For Claims Not Included in IBC Resolution Plan

The Supreme Court quashed the enforcement of an arbitral award for claims that were not included in the approved resolution plan under the IBC (Insolvency and Bankruptcy Code). This ruling reinforces the principle that a resolution plan, once approved, is binding on all stakeholders, and any claims not forming part of it cannot be pursued against the successful resolution applicant. This "clean slate" doctrine is crucial for the efficacy of the IBC process, ensuring that the revived corporate debtor starts afresh without the burden of past liabilities that were not accounted for in the resolution.