Debt of ‘Corporate Debtor’, not considered in Resolution Plan, doesn’t extinguish automatically

Bharat Petroresources Limited Vs Jsw Ispat Special Products Limited (Delhi High Court) Facts- BPRL, GAIL (India) Ltd. has entered into a Production Sharing Contract (PSC) with the Government of India. Thereafter, the members of the consortium entered into an agreement for carrying out joint operations under PSC and the petitioner was selected as the lead operator to carry out the joint operations. The petitioner raised various Cash Calls on the respondent, however, the respondent failed to comply with the cash calls, therefore, a dispute arose between the parties. The petitioner issued a Defau...