Prospective valuation amendment limits reassessment: unamended fair market value reference could not justify reopening based on a registered valuer's ...
An approved resolution plan cannot be used to reopen or indefinitely re-scrutinise a homebuyer claim already admitted by the resolution professional and reflected in the creditors' list. The verification clause, read holistically, was limited to checking original documents and executing a fresh builder-buyer agreement; it did not permit re-adjudication or rejection after plan approval. Where the claim was timely filed, fully admitted, and the plan had become final, the successful resolution applicant had to implement the plan and honour crystallised liabilities. On the facts, the appellant's entitlement to title and physical possession of the allotted flat was established, and the direction for fresh scrutiny was unsustainable.
An approved resolution plan cannot be used to reopen or indefinitely re-scrutinise a homebuyer claim already admitted by the resolution professional and reflected in the creditors' list. The verification clause, read holistically, was limited to checking original documents and executing a fresh builder-buyer agreement; it did not permit re-adjudication or rejection after plan approval. Where the claim was timely filed, fully admitted, and the plan had become final, the successful resolution applicant had to implement the plan and honour crystallised liabilities. On the facts, the appellant's entitlement to title and physical possession of the allotted flat was established, and the direction for fresh scrutiny was unsustainable.
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