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NCLT rejects Authum's plan for Vas Infra over CIRP issue - The Economic Times
The NCLT rejected Authum Investment's plan for Vas Infrastructure due to irregularities. The tribunal found misrepresentation of assets and misleading disclosures by the resolution professional. This significantly distorted the company's valuation and compromised the insolvency process fairness. The resolution professional's explanation for the error was rejected by the tribunal. The court's strict action emphasizes judicial review of commercial wisdom in insolvency cases.
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