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2023 (5) TMI 18 - HC - Insolvency and BankruptcyRefund of the court fee which had been filed in connection with the instant suit - ambit of a settlement which is alluded to in Section 16 of Court-Fees Act, 1870 - solitary remedy of participating in proceedings to be instituted under the IBC - collective settlement of claims - HELD THAT:- The Court notes that once personal insolvency has commenced in terms of Section 95, the interim moratorium would come into play immediately upon the institution of those proceedings. 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 that would ensue against the defendants. Since the same would also relate to a settlement of claims, it would appear to fall within the scope of Section 16. The prayer as made in the present application is allowed. The Registry to take appropriate steps for refund of the court fee which stands deposited accordingly.
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