It is not necessary that for all applications filed under Section 46(1) of IBC there has to be mandatory expert appointed by the Adjudicating Authority – M/s. Radico Trading Ltd. Vs. Tarun Batra IP & Ors. – NCLAT New Delhi
Section 46(2) empowers the Adjudicating Authority to require an independent expert to assess evidence relating to the value of the transactions. The power under Section 46(2) is enabling power and the expression used “may require” indicates that it is not necessary that for all applications filed under Section 46(1) there has to be mandatory expert appointed by the Adjudicating Authority. Therefore, we are not persuaded to accept the submissions of the counsel for the Appellant that it was mandatory for the Adjudicating Authority to require an independent expert to assess evidence relating to the value of the transactions. Thus, no error has been committed by the Adjudicating Authority in accepting the case of the Resolution Professional that transaction was undervalued.
