Dissenting Financial Creditors Entitled to Pro-Rata Share of Resolution Value Under Section 30(2)(b)(ii) of I&B Code

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....The NCLAT determined that dissenting financial creditors are entitled to a pro-rata share of the resolution value rather than merely the liquidation value when the resolution value exceeds liquidation value. The tribunal ruled this approach is "fair and equitable" under Section 30(2)(b)(ii) of the I&B Code. The appellant (RBL Bank) was awarded Rs. 42.09 Crores, with all dissenting FCs to receive proportionate shares of the resolution plan value. Regarding payment priority, the NCLAT held that dissenting creditors must be paid first, but on a pro-rata basis when payments come in installments. The tribunal ordered Respondent No. 1 to remit the determined amount to the Resolution Professional by March 31, 2025, for distribution among financial creditors as detailed in the plan.....