Whether Resolution Professional is under legal obligation to inform the fair, liquidation value of the Corporate Debtor to the Appellant/Operational Creditor, who is not a member of CoC? – Chhattisgarh State Power Distribution Company Ltd. (CSPDCL) Vs. Salasar Steel and Power Ltd. – NCLAT New Delhi
October 4, 2022
The points need to be answered in this appeal are as follows:
(i) Whether the CoC and Adjudicating Authority discriminated the Operational Creditors from Financial Creditor while approving the Resolution plan making the Appellant to loss 100% of its claim, if so, the order is liable to be set aside.
(ii) Whether the Resolution Professional is under legal obligation to inform the fair, liquidation value of the Corporate Debtor to the Appellant, who is not a member of CoC?
(iii) Whether the alleged failure to appoint a registered valuer for valuing the Corporate Debtor to fix, fair and liquidation value is an legality in the order passed by the Adjudicating Authority.