https://www.taxtmi.com/caselaws?id=299234 Under the IBC, the Interim Resolution Professional or Resolution Professional is required to collate and verify claims, seek further evidence where needed, and maintain an updated list of claims. On the facts, the Resolution Professional's revision of the creditor's admitted claim was upheld because the higher amount was not supported by the corporate debtor's books of account, and the alleged additional cash payments were not reflected in the records. The revised admission, including interest, was therefore based on available accounting material and was not found arbitrary. No direction was issued to admit the higher claimed amount. en-us Tue, 02 Mar 2021 00:00:00 +0530 Tue, 07 Dec 2021 20:23:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299234 Under the IBC, the Interim Resolution Professional or Resolution Professional is required to collate and verify claims, seek further evidence where needed, and maintain an updated list of claims. On the facts, the Resolution Professional's revision of the creditor's admitted claim was upheld because the higher amount was not supported by the corporate debtor's books of account, and the alleged additional cash payments were not reflected in the records. The revised admission, including interest, was therefore based on available accounting material and was not found arbitrary. No direction was issued to admit the higher claimed amount. Case-Laws Insolvency and Bankruptcy Tue, 02 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299234