NCLT Orders Precision Realty Resolution Plan Revision

NCLT Mumbai ruled a resolution plan for Precision Realty unfairly treated dissenting creditor IndusInd Bank.
The plan distributed proceeds based on voting share, ignoring IndusInd's exclusive security interest in land.
The tribunal directed the plan be modified to pay IndusInd at least the land's liquidation value of ₹19.59 crore.
The decision protects dissenting creditors' statutory entitlements under the Insolvency and Bankruptcy Code.