2022 (1) TMI 1406

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....IBUNAL, NEW DELHI - AT (Judgement / Order / Decisions)<br>Dated:- 19-1-2022<br>Company Appeal (AT) (Insolvency) No. 845 of 2021 With Company Appeal (AT) Insolvency No. 1034 of 2021 - -<br>Insolvency & Bankruptcy<br>[Justice Ashok Bhushan] Chairperson And (Dr. Ashok Kumar Mishra) Member(Technical) For the Appellant : Mr. K. Datta, Sr. Advocate along with Mr. Prateek Kumar, Ms. Smriti Nair & Ms.....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

..../ value of the asset and exact valuation details within three weeks from the date of the receipt of the order and also directed to 'Resolution Professional' (RP) to file the two valuations reports obtained by him before the next date of hearing and matter was posted to 05.10.2021 for further consideration and on 05.10.2021 getting no reports, the Adjudicating Authority heard the same CP(IB) - 170(....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....act of the case is that during the CIRP of the CD (ACIL Limited) the amount claimed is of Rs.&nbsp;1830/- Crore approx., amount admitted is Rs.&nbsp;1782 /- Crore approx. and amount provided under the plan is Rs.&nbsp;105/- Crore approx. so haircut is approximately 94 to 99% for the different classes of the creditors (appearing at page 280-281 of the Appeal paper book). Fair value is Rs.&nbsp;130 ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....to satisfy himself within the boundary of the provisions of the Code and the law laid down. If some suspicion arises on hair cut of 94 to 99%, it has to satisfy itself. 6. It appears from para 7.4 of CA(AT) (Ins) No.&nbsp;1034 of 2021 that the two registered valuers so appointed by the RP has submitted their report on 11.02.2019 and 14.02.2019 but on 24.06.2019 it came to the knowledge of the R....