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 BankruptcyFebruary 23, 2024Case LawsAT
Prayer for condonation of delay of 1197 days and admission of the claim - The appellants argue that their claims should be considered despite the approval of the Resolution Plan by the CoC. They contend that the Corporate Debtor is bound to honor agreements, but the respondents argue that no new claims can be admitted after the approval of the plan. - The NCLAT held that, there is no error has been committed by the Adjudicating Authority in rejecting Applications filed by the Appellants.
Prayer for condonation of delay of 1197 days and admission of the claim - The appellants argue that their claims should be considered despite the approval of the Resolution Plan by the CoC. They contend that the Corporate Debtor is bound to honor agreements, but the respondents argue that no new claims can be admitted after the approval of the plan. - The NCLAT held that, there is no error has been committed by the Adjudicating Authority in rejecting Applications filed by the Appellants.
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