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2018 (11) TMI 1849 - AT - Insolvency and BankruptcyNCLT sought to re-determine the Liquidation Value before considering the Resolution Plan - HELD THAT:- It is clear that once the Committee of Creditors has approved the plan and the Resolution Professional produced the same before the Company Appeal in the case of QUINN LOGISTICS INDIA PVT. LTD. VERSUS MACK SOFT TECH PVT. LTD., MOHD. SABIR PARVEZ AND MR. M.L. JAIN, (RESOLUTION PROFESSIONAL) [2018 (6) TMI 904 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI], where it was held that the Adjudicating Authority has to approve the same if it is in consonance with Section 30(2) or to reject it if it is in violation of Section 30(2). Prima facie there is no provision to direct the Resolution Professional at that stage to redetermine the liquidation value once the plan has been approved by the Committee of Creditors. Let notice be issued - Post the case 'for admission (after notice)' on 12th November, 2018 on top of the list.
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