Modern Asset v. KNK Construction Private Limited
2026 INSC 11038 October 202615 min read
Supreme Court Permits Set-Off in Arbitration Between Operational Creditor and Resolution Applicant from Same Contract
The Supreme Court upheld arbitration between an operational creditor and a successful resolution applicant from the same contract but permitted the operational creditor to raise a counterclaim for set-off only.
Case Snapshot
- Case Name
- Modern Asset v. KNK Construction Private Limited
- Citation
- 2026 INSC 1103 (Non-Reportable)
- Bench
- Justice J.B. Pardiwala and Justice K. Vinod Chandran
- Date of Judgment
- October 8, 2026
- Area of Law
- Insolvency and Bankruptcy Code, 2016 — Arbitration and Conciliation Act, 1996 — Clean Slate Principle — Set-Off — Successful Resolution Applicant
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