9911796707
TMI Blog2023 (5) TMI 18X X X X Extracts X X X X X X X X Extracts X X X X ..... which have come to be initiated against the defendants under Section 95 of the Insolvency and Bankruptcy Code, 2016 [IBC]. According to learned counsel, while the aforesaid developments may not strictly fall within the ambit of a settlement which is alluded to in Section 16 of Court-Fees Act, 1870 since the plaintiff would now have the solitary remedy of participating in proceedings to be instituted under the IBC and take part in a collective settlement of claims, the Court may consider extending the benefits thereof in the peculiar facts of the present case. 3. Learned counsel has further placed reliance on the judgement rendered by the Supreme Court in the High Court of Madras vs. M.C. Subramaniam [(2021) 3 SCC 560] where while referring ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... may be had to the decision of the Karnataka High Court in Kamalamma v. Honnali Taluk Agricultural Produce Coop. Mktg. Society Ltd. [Kamalamma v. Honnali Taluk Agricultural Produce Coop. Mktg. Society Ltd., 2009 SCC OnLine Kar 744 : (2010) 1 AIR Kant R 279] , wherein it was held as follows : (SCC OnLine Kar para 6) "6. Whether the parties to a suit or appeal or any other proceeding get their dispute settled amicably through arbitration, or meditation or conciliation in the Lok Adalat, by invoking provisions of Section 89 CPC or they get the same settled between themselves without the intervention of any Arbitrator/Mediator/Conciliators in Lok Adalat, etc., and without invoking the provision of Section 89 CPC, the fact remains that they get ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d at, and a memo to withdraw the appeal was filed before the High Court. In such a case as well, the appellant i.e. Respondent 1 herein would be entitled to refund of court fee." 4. 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. 5. In view of the aforesaid, the pray ..... X X X X Extracts X X X X X X X X Extracts X X X X
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