The Supreme Court recently in Bharti Airtel Limited and Anr. v. Vijay Kumar Iyer and Ors[1] [“Bharti Airtel Judgement”] has settled the issue on the applicability of the principle of setoff under Insolvency and Bankruptcy Code, 2016 [“IBC”]. The Division bench of Supreme Court of India comprising of Justice Sanjiv Khanna and Justice S.K.V Bhatti dismissed an Appeal filed by Bharti Airtel Limited [“Airtel”] under Section 62 of IBC. The bench by its judgement dated 3rd January, 2024 upheld the order of National Company Law Appellate Tribunal [“NCLAT”], wherein the NCLAT castigated the applicability of the Set offs during Corporate Insolvency Resolution Process [“CIRP”] under IBC on the ground that the use of…