Consolidated Engineering Company & Anr Vs. Golden Jubilee Hotels Pvt Ltd [Company Appeal (AT) (Insolvency) No. 501 of 2018]

In this case, Consolidated Engineering Company & Anr Vs. Golden Jubilee Hotels Pvt Ltd [Company Appeal (AT) (Insolvency) No. 501 of 2018], the Court was of the opinion that the Adjudicating Body had properly held that 10 percent of the overall debt for the benefit of inclusion in the Committee of Creditors was to be determined on the grounds of the claim as collated and noted by the resolution professional. It cannot be calculated on the sum reported by all Operational Creditors unless it is checked and compared.

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