NCLT Directs SRA to Match Total Value of Resolution Plan with Liquidation Value

Hadirah Steels Pvt. Ltd. Vs Rana Heavy Engineering Ltd. (NCLT Allahabad) In a recent application filed under Section 30(6) of the Insolvency and Bankruptcy Code (IBC) for approval of the Resolution Plan, based on the resolution passed by the Committee of Creditors (CoC), the National Company Law Tribunal (NCLT) Allahabad made a significant observation. Upon review, it was noted that the amount of the Resolution Plan, totaling Rs. 6.70 crore, fell short of the liquidation value of Rs. 7.69 crore. The Liquidation Assets include Plant, Machinery, Land, and Building. Considering that the CoC consi...