When value has been added to the assets of the Corporate Debtor, the submission by CoC that fresh process may not start cannot be accepted – Masatya Technologies Pvt. Ltd. Successful Resolution Applicant for Vistar Construction Pvt. Ltd. v. Amit Agarwal RP for Vistar Construction Pvt. Ltd. and Anr. – NCLAT New Delhi

Hon’ble NCLAT agrees with the Adjudicating Authority as view AA has taken in consideration the fact that properties shall come to the kitty of the Corporate Debtor, whose value is much more than the entire plan value submitted by the Resolution Applicant, hence, order was issued for issuance of Form G. The Committee of Creditors would always be interested in getting more and more value from the assets of the Corporate Debtor. When value has been added to the assets of the Corporate Debtor, the submission by the Committee of Creditors that fresh process may not start cannot be accepted.

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