Insolvency and Bankruptcy Code, 2016 ; Section 25(2)(a)– Rght to claim set-off in the Corporate Insolvency Resolution Process, when the Resolution Professional proceeds in terms of Section 25(2)(a) to take custody and control of all the assets of the corporate debtor.Provisions of statutory set-off in terms of Order VIII Rule 6 of CPC or insolvency set-off as permitted by Regulation 29 of the Liquidation Regulations can be applied to the Corporate Insolvency Resolution Process. The aforesaid rule would be, however, subject to two exceptions or situations. The first, if at all it can be called an exception, is where a party is entitled to contractual set-off, on the date which is effective before or on the date the Corporate Insolvency Resolution Process is put into motion or commences. – The second exception will be in the case of ‘equitable set-off’ when the claim and counter claim in the form of set-off are linked and connected on account of one or more transactions that can be treated as one. (Para 30-34)