In terms of the commencement of proceedings under the IBC, the plaintiff would now have the solitary remedy of filing a claim and participate in the collective statutory settlement process, since the same would also relate to a settlement of claims, it would appear to fall within the scope of Section 16 of Court-Fees Act, 1870 – Proud Securities and Credits Pvt. Ltd. Vs. Urrshila Kerkar & Anr. – Delhi High Court

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3 members bench referred V. Padmakumar, 5 members bench’s judgment, on Company’s Balance Sheet amounts to an acknowledgement of debt under Section 18 of the Limitation Act, 1963 to Hon’ble Acting Chairperson for reconsideration – Bishal Jaiswal Vs. Asset Reconstruction Company (India) Ltd – NCLAT New Delhi

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