https://www.taxtmi.com/caselaws?id=764166 The NCLAT dismissed an appeal where the appellant sought reconsideration of their revised resolution plan after fresh valuation of intangible assets was ordered. The original resolution plan approved on 30.12.2019 became infructuous when the adjudicating authority on 04.08.2023 directed revaluation of intangible assets following an unsecured creditor's application. The appellant's revised plan was subsequently rejected by the Committee of Creditors (CoC). The NCLAT held that since the appellant failed to challenge the 04.08.2023 order directing revaluation, they lost rights under the original plan. The tribunal upheld the CoC's commercial wisdom in rejecting the revised offer and confirmed that intangible assets must be valued separately, while noting the appellant remained free to participate in the fresh process under Form G. en-us Fri, 03 Jan 2025 00:00:00 +0530 Fri, 03 Jan 2025 17:25:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764166 The NCLAT dismissed an appeal where the appellant sought reconsideration of their revised resolution plan after fresh valuation of intangible assets was ordered. The original resolution plan approved on 30.12.2019 became infructuous when the adjudicating authority on 04.08.2023 directed revaluation of intangible assets following an unsecured creditor's application. The appellant's revised plan was subsequently rejected by the Committee of Creditors (CoC). The NCLAT held that since the appellant failed to challenge the 04.08.2023 order directing revaluation, they lost rights under the original plan. The tribunal upheld the CoC's commercial wisdom in rejecting the revised offer and confirmed that intangible assets must be valued separately, while noting the appellant remained free to participate in the fresh process under Form G. Case-Laws IBC Fri, 03 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764166