2021 (1) TMI 1279 - SCH - Insolvency and Bankruptcy

Valuation - Liquidation of Corporate Debtor - allegation that the Reserve price of ₹ 52.83 Crores has been kept at a dismal low - valuation is challenged on the ground that valuers have proceeded on the basis of wrong assumption that the land in question is Agricultural in nature, whereas, it is an industrial land - Regulation 35(3) (4) of the IBBI (Liquidation Process) Regulation, 2016 - HELD THAT - The appeals are dismissed.

Summary

The Supreme Court of India dismissed the appeals and refused to interfere with the order of the National Company Law Appellate Tribunal dated 17 August 2020 in Company Appeal (AT) (Insolvency) Nos 1420 and 1430 of 2019. Any pending application was disposed of.