Modern Asset vs Knk Constructions Private Limited

Modern Asset vs Knk Constructions Private Limited on 8 October, 2026 2026 INSC 1103 Non-Reportable IN THE SUPREME COURT OF INDIA CIVILL APPELLATE JURISDICTION Civil Appeal No………...of 2026 [@ Special Leave Petition (C) No.25068 of 2026] Modern Asset …. Appellant Versus KNK Construction Private Limited. …. Respondent JUDGMENT K. VINOD CHANDRAN, J. Leave granted. 2. The instant appeal raises an interesting question, apropos the Insolvency and Bankruptcy Code, 2016 (IBC for short) as to whether an Operational Creditor (OC) who suffered a major haircut in the Corporate Insolvency Resolution Process (CIRP) can be proceeded against by the Successful Resolution Applicant (SRA) for pre-CIRP dues due from the OC, to the entity which had fallen into CIRP. Signature Not Verified Digitally signed by CHANDRESH Date: 2026.10.08 3. On background facts, we have to notice that the appellant 19:00:23 IST Reason: and the respondent entered into a contract for civil and structural Page 1 of 24 CA@SLP (C) No. 25068 of 2026 work of construction of an office building by an agreement dated 09.07.2018, in which Clause 19.13 provided for arbitration with respect to disputes or differences in relation to or arising out of or touching the said contract; the total contract amount of which was Rs.133.68 Crores. The appellant paid the mobilisation advance and the r…