Resolution Applicant Bids Need Not Match Liquidation Value Under IBC Clause 35; Valuation Guides, Not Dictates, CoC Decisions.

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....Matching of liquidation value in the resolution plan under IBC - No provision in the Code or Regulations has been brought to our notice under which the bid of any Resolution Applicant has to match liquidation value arrived at in the manner provided in Clause 35 - the object behind prescribing such valuation process is to assist the CoC to take decision on a resolution plan properly.....