https://www.taxtmi.com/caselaws?id=436146 The Adjudicating Authority upheld the Resolution Professional's decision to reduce the claim amount after provisional admission, emphasizing the professional's right to revise amounts based on additional information. The Authority found the Resolution Professional did not exceed jurisdiction and that the claim amount mentioned in the Section 7 application is not final for determining voting rights. The Appellant's contention that a previous arbitration award was irrelevant was dismissed, as the Authority deemed the claim amount calculation correct and found no error in the Resolution Professional's actions. Consequently, the appeal was dismissed. 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 The Adjudicating Authority upheld the Resolution Professional's decision to reduce the claim amount after provisional admission, emphasizing the professional's right to revise amounts based on additional information. The Authority found the Resolution Professional did not exceed jurisdiction and that the claim amount mentioned in the Section 7 application is not final for determining voting rights. The Appellant's contention that a previous arbitration award was irrelevant was dismissed, as the Authority deemed the claim amount calculation correct and found no error in the Resolution Professional's actions. Consequently, the appeal was dismissed. Case-Laws Insolvency and Bankruptcy Wed, 05 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436146