Resolution Plan Rejection on Valuation Grounds Unjustified Without Stakeholder Objection

Vashishth Builders And Engineers Limited Vs Trishul Dream Homes Limited (NCLAT Delhi) NCLAT Delhi held that rejection of resolution plan on the ground of valuation of assets of Corporate Debtor not sustainable since no objection to the valuation conducted of the Corporate Debtor was raised by any stakeholders. Facts- The Corporate Insolvency Resolution Profess (CIRP) of the Corporate Debtor – Trishul Dream Homes Ltd. commenced vide order dated 16.06.2023. IRP was replaced on 05.08.2023 by Respondent No.1. Resolution Plans were received, which were examined and few Resolution Applicants were ...