https://www.taxtmi.com/caselaws?id=408067 An adjudicating authority may direct a promoter's settlement proposal to be placed before the Committee of Creditors for consideration and voting where no express legal bar exists, relying on residuary and inherent powers to prevent injustice; the commercial merits remain for the Committee of Creditors to assess. The second settlement proposal was therefore directed to be placed before the Committee. A request for a fresh independent valuation of the corporate debtor's assets, and supply of that report to the applicant, was rejected because valuation had already been undertaken in the insolvency process. en-us Wed, 19 May 2021 00:00:00 +0530 Sat, 29 May 2021 13:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408067 An adjudicating authority may direct a promoter's settlement proposal to be placed before the Committee of Creditors for consideration and voting where no express legal bar exists, relying on residuary and inherent powers to prevent injustice; the commercial merits remain for the Committee of Creditors to assess. The second settlement proposal was therefore directed to be placed before the Committee. A request for a fresh independent valuation of the corporate debtor's assets, and supply of that report to the applicant, was rejected because valuation had already been undertaken in the insolvency process. Case-Laws Insolvency and Bankruptcy Wed, 19 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408067