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Insolvency and BankruptcyFebruary 21, 2024Case LawsAT
Rejection of valuation report obtained by the RP from its valuers - The NCLAT observed that, Resolution Professional appointed valuers for asset valuation under CIRP regulations, and resolution plan was approved by CoC. Appellant raised valuation concerns in CoC meetings, but the resolution plan was already approved. Respondent cites a Supreme Court judgment supporting rejection of post-approval valuation challenges. Tribunal finds no error in the Adjudicating Authority's decision to reject the appellant's application.
Rejection of valuation report obtained by the RP from its valuers - The NCLAT observed that, Resolution Professional appointed valuers for asset valuation under CIRP regulations, and resolution plan was approved by CoC. Appellant raised valuation concerns in CoC meetings, but the resolution plan was already approved. Respondent cites a Supreme Court judgment supporting rejection of post-approval valuation challenges. Tribunal finds no error in the Adjudicating Authority's decision to reject the appellant's application.
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