https://www.taxtmi.com/caselaws?id=437857 The appeal against the order for liquidation of a corporate debtor, initiated by a financial creditor during the Corporate Insolvency Resolution Process (CIRP), was dismissed. The appellant, the Promoter of the Corporate Debtor, raised concerns about the valuation of assets but was directed to set the reserve price based on two valuation reports. Despite depositing a portion of the amount due to the Financial Creditor, the appellant's appeal was unsuccessful, leading to a refund of the deposited amount. The judgment upheld the liquidation order and specified the methodology for setting the reserve price during asset sale. en-us Tue, 16 May 2023 00:00:00 +0530 Wed, 17 May 2023 08:45:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437857 The appeal against the order for liquidation of a corporate debtor, initiated by a financial creditor during the Corporate Insolvency Resolution Process (CIRP), was dismissed. The appellant, the Promoter of the Corporate Debtor, raised concerns about the valuation of assets but was directed to set the reserve price based on two valuation reports. Despite depositing a portion of the amount due to the Financial Creditor, the appellant's appeal was unsuccessful, leading to a refund of the deposited amount. The judgment upheld the liquidation order and specified the methodology for setting the reserve price during asset sale. Case-Laws Insolvency and Bankruptcy Tue, 16 May 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437857