Political contribution deductions require assessee-specific proof before cash-back allegations can justify disallowance or unexplained-money additions...
NCLAT dismissed the appeals and upheld approval of the resolution plan, finding no infirmity in the valuation process under Regulation 35. The panel held the third registered valuer's report to be admissible and not perverse, noting that certain units transferred to contractors were correctly excluded from the corporate debtor's asset base. The CoC's commercial wisdom in approving the plan was not interfered with. The dissenting financial creditor remains entitled to payment under section 30(2)(b), the quantum of which is to be determined using the liquidation value derived by averaging the two proximate valuation estimates (first and third valuer reports).
NCLAT dismissed the appeals and upheld approval of the resolution plan, finding no infirmity in the valuation process under Regulation 35. The panel held the third registered valuer's report to be admissible and not perverse, noting that certain units transferred to contractors were correctly excluded from the corporate debtor's asset base. The CoC's commercial wisdom in approving the plan was not interfered with. The dissenting financial creditor remains entitled to payment under section 30(2)(b), the quantum of which is to be determined using the liquidation value derived by averaging the two proximate valuation estimates (first and third valuer reports).
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