Supreme Court Approves Set-Off of Extinguished Counterclaims in Arbitration Post-CIRP; Legal Implications Highlighted by adrEdge. The Supreme Court of India, in, examined the interplay between the clean slate principle under the Insolvency and Bankruptcy Code, 2016 (IBC) and the right to raise a counterclaim in arbitration after approval of a resolution plan. The Court upheld the continuation of arbitration proceedings while permitting the appellant to use its extinguished cl