https://www.taxtmi.com/caselaws?id=422200 The tribunal set aside the resolution plan due to discrepancies in the valuation process. The third valuation was deemed unjustified, and the tribunal directed to consider the average of the first two valuations for creditor payments. The importance of adhering to regulations in the valuation process was emphasized. The failure to consider a forensic audit report and pending applications involving significant amounts impacted the resolution plan. The Committee of Creditors' approval based on flawed valuation was criticized. The tribunal ordered the revision of payments based on the average valuation and disposal of pending applications within two months, with parties bearing their own costs. en-us Tue, 12 Apr 2022 00:00:00 +0530 Wed, 11 May 2022 20:41:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422200 The tribunal set aside the resolution plan due to discrepancies in the valuation process. The third valuation was deemed unjustified, and the tribunal directed to consider the average of the first two valuations for creditor payments. The importance of adhering to regulations in the valuation process was emphasized. The failure to consider a forensic audit report and pending applications involving significant amounts impacted the resolution plan. The Committee of Creditors' approval based on flawed valuation was criticized. The tribunal ordered the revision of payments based on the average valuation and disposal of pending applications within two months, with parties bearing their own costs. Case-Laws Insolvency and Bankruptcy Tue, 12 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422200