Valuation based on relevant material requires no interference | Dues not included in Resolution Plan are extinguished post approval | IBC provisions override SEZ Act and Rules – Noida Special Economic Zone Authority Vs. Manish Agarwal and Ors. – Supreme Court
In this judgment, the Hon’ble Supreme Court clarifies following issues:
A. Valuation does not call for any interference if it is based on relevant material on record.
B. All the dues is not the part of the Resolution Plan shall stand extinguished and no proceedings could be pressed into service or continues.
C. Claims pertaining to the transfer fees, etc. were not to be interfered with by courts or tribunals as the same stood related to the commercial wisdom of the CoC.
D. Does provision of IBC override Special Economic Zone Act and Rules?