Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
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Insolvency and BankruptcyJune 19, 2021Case LawsTri
Condonation of delay in filing the claim before the RP - the Applicant has failed to establish the reason for the delay in submission of the claim. This led us to the questions that why not the Respondent/RP take cognizance of outstanding statutory dues as per book of accounts of the Corporate Debtor. The Respondent has clearly stated that the alleged dues are not yet quantified and litigations under various authorities are pending - The Respondent has also stated that the Resolution Plan is pending for approval before CoC. Hence, we are of the view that there is no merit in this application. - Tri
Condonation of delay in filing the claim before the RP - the Applicant has failed to establish the reason for the delay in submission of the claim. This led us to the questions that why not the Respondent/RP take cognizance of outstanding statutory dues as per book of accounts of the Corporate Debtor. The Respondent has clearly stated that the alleged dues are not yet quantified and litigations under various authorities are pending - The Respondent has also stated that the Resolution Plan is pending for approval before CoC. Hence, we are of the view that there is no merit in this application. - Tri
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