NCLT questions Monnet Ispat's liquidation value of Rs 23.65 billion

The RP had appointed Knight Frank and RBSA Advisors as the valuation experts in the insolvency and bankruptcy case

The Mumbai Bench of the National Company Law Tribunal (NCLT) has questioned the basis on which the resolution professional (RP) arrived at the liquidation value of Rs 23.65 billion for Monnet Ispat. It is learnt that the plan submitted before the Bench, which had 98.97 per cent approval from lenders comprising the committee of creditors (CoC), takes into account the mining rights and future revenues of its mines.

The Bench sought to know whether the mining rights for one of its mines in Chhattisgarh, which Monnet won in 2015, was included for the valuation, and if it reflected in the liquidation