Supreme Court · 2020 INSC 76 · Decided 22 January 2020
Maharashtra Seamless Limited v. Padmanabhan Venkatesh & ORS.
- Court
- Supreme Court of India
- Citation
- 2020 INSC 76 · [2020] 2 S.C.R. 1157
- Case number
- CIVIL APPEAL No. 4242/2019
- Decided
- 22 January 2020
- Bench
- R.F. NARIMAN, ANIRUDDHA BOSE, V. RAMASUBRAMANIAN (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- IBC Section 31
Headnote
Insolvency and Bankruptcy Code, 2016: s. 31 - Corporate Insolvency Resolution Process (CIRP) - Resolution plan which provided upfront payment of Rs. 477 crores was approved by the Adjudicating Authority - Appellate Tribunal directed the successful resolution the upfront payment amount of Rs. 477 crores to Rs. 597.54 crores i.e. equal to average liquidation value - Appeal to Supreme Court - Held: There is no provision in the Code or the Regulations which requires that bid of a resolution applicant has to match liquidation value -
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