https://www.taxtmi.com/caselaws?id=436146 A provisionally admitted insolvency claim may be revised on subsequent verification or additional material, and the Resolution Professional may rely on an unchallenged arbitral award to fix the admitted amount. Here, the claim had only been provisionally admitted, and the arbitral award quantified liability at a lower figure than the original claim. Regulation 14(2) of the CIRP Regulations, 2016 permitted revision of the claim when further material emerged, so the reduced computation was valid and there was no basis to interfere with it. en-us Wed, 05 Apr 2023 00:00:00 +0530 Thu, 06 Apr 2023 08:24:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436146 A provisionally admitted insolvency claim may be revised on subsequent verification or additional material, and the Resolution Professional may rely on an unchallenged arbitral award to fix the admitted amount. Here, the claim had only been provisionally admitted, and the arbitral award quantified liability at a lower figure than the original claim. Regulation 14(2) of the CIRP Regulations, 2016 permitted revision of the claim when further material emerged, so the reduced computation was valid and there was no basis to interfere with it. Case-Laws Insolvency and Bankruptcy Wed, 05 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436146