Fair market value under section 50C must reflect existing property condition, not hypothetical development, and statutory valuation steps must be foll...
NCLAT affirmed the Resolution Professional's calculation of worker's salary claim at Rs.185,62,360/- for layoff period. The tribunal determined that the Resolution Professional correctly admitted the claim without challenging its quantum. The Adjudicating Authority explicitly noted that determining workers' entitlements under Industrial Dispute Act falls outside its jurisdictional scope. Consequently, no procedural errors were found in the original order, and the appeal was summarily dismissed, upholding the initial claim calculation and maintaining the Resolution Professional's original determination.
NCLAT affirmed the Resolution Professional's calculation of worker's salary claim at Rs.185,62,360/- for layoff period. The tribunal determined that the Resolution Professional correctly admitted the claim without challenging its quantum. The Adjudicating Authority explicitly noted that determining workers' entitlements under Industrial Dispute Act falls outside its jurisdictional scope. Consequently, no procedural errors were found in the original order, and the appeal was summarily dismissed, upholding the initial claim calculation and maintaining the Resolution Professional's original determination.
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